Lark Health seeks to strengthen its digital chronic care management tool with its innovative AI models that focus on chronic disease prevention. The California-based company has developed smartphone-compatible apps that connect patients to counseling sessions for conditions like diabetes and obesity.
With Lark, patients can meet with healthcare providers via videoconference or a phone call, rather than traveling to a doctor’s office. Due to this year’s global pandemic, the federal government relaxed laws surrounding telehealth, so physicians and insurance providers can work together to provide care in new and virtual ways.
Recently, Lark Health raised $55 million in Series C funding led by King River Capital, with help from new investors SteelSky Ventures, Franklin Templeton, and Olive Tree Capital as well as return investors Asset Management Ventures, Lightspeed Ventures, UCLA Fielding School of Public Health’s Dr. Jonathan Fielding, and Marvell co-founder Weili Dai. To date, Lark has raised over $100 million in equity and debt funding.
Over 2 million people have utilized Lark’s AI-driven services, and through a recent partnership with health insurance giant Anthem, the company hopes to soon reach many more with its digital coaching platform. The company will use the new funds to continue cultivating relationships with other telehealth providers and commercial payers.
"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," says Lark CEO Julia Hu.
Anthem-affiliated health plans have listed Hu’s company as their Preferred Provider for its Diabetes Prevention Program. Lark's DPP also has received Full Recognition (the highest level of clinical recognition) from the Centers for Disease Control and Prevention. Lark will continue working on these programs while building out similar programs focusing on obesity, anxiety management, stress, weight management, and smoking cessation, by continuing to develop compatibility with smart devices that can help customers monitor their glucose levels, weight, and blood pressure, among other vital signs.
