Lark Health, a telehealth company providing chronic disease prevention and management programs using AI, expert health coaching, and smart connected wearable sensors, 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, 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, co-founder of Marvell.
According to the company, the Lark Health programs provide members with unlimited 24/7 personal counseling in real-time in an easy-to-use, text message-like modality.
The programs address 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, the company said. And when an emergent situation or complex question arises, Lark escalates the concern to a live interaction telephonically or provides a recommended next step.
“Our mission has always been to provide personalized and immediate care driven by AI to people at-risk of chronic conditions, and this new funding and expanded relationship with Anthem are tremendous votes of confidence in Lark’s approach to virtual care,” said Julia Hu, CEO of Lark Health. “It is more important than ever before that millions of people at-risk of or managing chronic conditions have access to compassionate care at home, and we are excited to work with innovative commercial payers, telehealth providers, and others to build the future; for virtual care.”
Founded in 2011, Lark raised over $100 million in equity and debt funding to date. The company employs more than 100 people with an office in Mountain View, California.
Lark plans to use the new funds to expand its relationships with commercial payers and telehealth providers for chronic disease prevention and management. For example, it will expand its relationship with health plans affiliated with Anthem to power A.I.-driven well-being coaching in the health plans’ mobile app.