Lark Health today announced it has closed a $55 million Series C funding round led by King River Capital, as well as a $15 million venture debt credit facility with Trinity Capital and Bridge Bank.
The round also includes new investors Franklin Templeton, SteelSky Ventures, and Olive Tree Capital; and existing Lark investors Lightspeed Ventures, Asset Management Ventures, Dr. Jonathan Fielding of UCLA Fielding School of Public Health, and Weili Dai, cofounder of Marvell. Lark has raised a total of over $100 million in equity and debt funding to date.
Having managed nearly two million patients on its platform, Lark will use the funds to further expand its relationships with commercial payers and telehealth providers for chronic disease prevention and management.
For example, Lark will expand its relationship with Anthem-affiliated health plans to power digital coaching through the health plans’ mobile app. In addition, Lark is now the Preferred Provider for its Diabetes Prevention Program to these Anthem-affiliated health plans. Lark’s DPP has received the highest level of clinical recognition – Full Recognition – from the Centers for Disease Control and Prevention.
“Anthem’s affiliated health plans strive to build a digital-first experience that can deliver innovative products and services, focused on improving consumers’ health and wellbeing,” said Rajeev Ronanki, Anthem’s Chief Digital Officer. “Lark’s use of conversational A.I. to scale personalized, evidence-based, and engaging healthcare services can help achieve health outcomes on-par with programs based on in-person interactions.”
Lark’s programs provide members with unlimited 24/7 personal counseling in real-time in an easy-to-use, text message-like modality. Powered by conversational A.I., the platform seamlessly addresses the whole person, with counseling for diabetes, cardiovascular disease, prediabetes, smoking cessation, stress, anxiety, and weight management, and it incorporates smart connected devices, like blood pressure cuffs, scales, and glucose meters, that sync with the program to help remotely monitor conditions.
When an emergent situation or complex question arises such as a needed medication change, Lark brings the member to a live interaction telephonically or provides a recommended next step. – BusinessNewsAsia.com