April 11, 2018 by Bruce Japsen
Livongo Health has raised $105 million more as the business of mobile monitoring technology to manage chronic conditions attracts big names in technology, health insurance and the investor community.
In the case of Livongo, the fast-growing startup said the new funding round is led by General Catalyst and Kinnevik. Also participating in the funding are Echo Health Ventures and existing investors DFJ, Kleiner Perkins Caufield & Byers, Merck Global Health Innovation Fund, Microsoft Ventures, Sapphire Ventures, Zaffre Investments, and 7wire Ventures.
It’s the latest financial endorsement of Livongo and the space generally. Last year, Livongo attracted more than $50 million in new funding to accelerate growth in diabetes management as well as growth managing other chronic conditions with its portfolio of apps, mobile technology and digital health programs to help people manage chronic conditions.
“It’s a very strong endorsement,” Livongo CEO Glen Tullman said of the more than $150 million raised in the last year . “Our investors are mostly internal guys so if they don’t see good stuff happening, they aren’t signing up.”
But investors like what they see with the business growing rapidly. Livongo’s roster of customers including large employers and health insurers “has crossed the 300 mark,” Tullman said. “We are making huge investments in data science.”
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