Chicago entrepreneur Glen Tullman just secured a large round of funding to help grow his diabetes management startup.
Livongo Health announced Thursday that it has raised an additional $52.5 million in funding co-led by General Catalyst and Kinnevik. Other investors in the round include Singapore's EDBI, American Investment Holdings LLC, Microsoft Ventures, as well as all of Livongo's previous investors.
Livongo makes a blood glucose monitor and digital dashboard to help people better manage their diabetes. The startup's glucose meter connects to the cloud to give people real-time information on their blood sugar, and it can send patient information to doctors and their loved ones.
Livongo has now raised more than $143 million since launching in 2014. The new funding will allow the startup to grow its diabetes management service, expand in to other chronic conditions, and move to international markets later this year, the company said.
“Our team is focused on empowering our members to live healthier lives, not just manage their chronic conditions. That means we have to address all of their health issues in a comprehensive way.” Tullman said in a statement. “In addition to diabetes, we’re focused on extending our program to support other chronic conditions like hypertension and to continue to deliver an experience that our members love while improving clinical results and lowering costs."
While Tullman--the former CEO of Allscripts--is based in Chicago, Livongo is headquartered in Mountain View, CA. The company has offices in Chicago at 444 N. Michigan Ave.
Livongo's combination of technology and coaching is improving health outcomes--and reducing costs--for people living with diabetes. Often, people with diabetes battle other chronic conditions such as high blood pressure or high cholesterol. Livongo now wants to help people better manage multiple chronic conditions.
“Livongo is one of the fastest growing companies in our portfolio and we are happy to double down to help the team expand their market leadership,” added Hemant Taneja, managing director at General Catalyst. “Additionally, we are excited to see Livongo expand their service to offer comprehensive support for their members’ chronic needs beyond diabetes.”
