Kinnevik invests $41 million in Livongo

Kinnevik invests $41 million in Livongo

Former investors in Konga, iROKO, Kinnevik AB said it has invested USD 41 million in Livongo Health Inc., in a USD 105 million funding round and increasing its ownership to 8%.

Livongo is a US based consumer digital health company empowering people with chronic conditions to live better and healthier lives.

Georgi Ganev, CEO of Kinnevik, commented:

“We are excited to lead the funding round in Livongo and to increase our ownership in the company. Since our first investment a year ago, Livongo has grown its member base by 2.5 times and reinforced its position as a leader in chronic conditions, starting with diabetes and hypertension. We have set out to focus our private portfolio and to identify the winners, and the investment in Livongo is an important step in executing our strategy in this area.”

Glen Tullman, Chief Executive Officer of Livongo, noted:

“The societal cost of chronic health conditions is staggering in the US and worldwide. This can be addressed – and Livongo is showing the way. The new science in health and healthcare is based on understanding consumers and meeting them exactly where they are. Livongo empowers members with useful and actionable information that leads to measurably better clinical results. Today’s financing furthers our ability to make our mission a reality. We are very pleased to have the continued support of Kinnevik for this exciting phase of our journey.”

Livongo empowers people with chronic conditions to live better and healthier lives. The company reduces the daily burdens of people living with chronic conditions, starting with diabetes and hypertension, by driving behavior change through the combination of consumer health technology, personalized recommendations, and real-time support at the point of impact.

Proceeds from the funding round will support rapid market growth, continued investment in data science, deeper integration with clients and partners, and the development of Livongo’s proprietary platform.