Digital health company Livongo raises $20 million for medical device, cloud-based glucose meter

Friday, April 10, 2015

Consumer digital health company Livongo Health raised $20 million in Series B funding to develop its cloud-based glucose meter for patients with diabetes.

Kleiner Perkins Caufield & Byers and DFJ contributed to the round with participation from existing investor General Catalyst Partners. The company raised a $10 million Series A round back in September with participation from Slow Ventures and Kevin Colleran.

CEO Glen Tullman heads up the Mountain View-based company, which was founded in 2014 to help patients with diabetes manage their condition. Since launching, the company has signed on major clients including healthcare providers such as Mission Health System and companies like Iron Mountain and Office Depot.

"We are very pleased to receive the support and insight of some of Silicon Valley’s premier healthcare investors,” Tullman said in a press release. “With thousands of people now using Livongo for Diabetes, it’s clear that the best way for people to manage chronic diseases like diabetes is to empower them with real-time, personalized information about their condition. This information improves care, reduces costs and enables people to focus on their lives and not their diseases.”

The company faces competition from several other startups which also connect diabetes patients to their healthcare providers. Telecare, which is working on a cellular-enabled glucose meter, raised $32.5 million last October, while Glooko, which developed a smartphone-connected glucose meter, raised $16.5 million last month.

Livongo caters to people with either Type 1 or Type 2 diabetes by using a cloud-based management program that is completely mobile, digital and personalized to the user. The company’s device captures a user’s biometric data and uploads it to a cloud-based inference engine where historical data, clinical rules and predictive modeling are used to convert it into useable information that is instantly returned to the user.

The startup will use the funds to develop the management ecosystem and accelerate its adoption.

 

bizjournals.com