Lark Health, which provides a digital platform for chronic condition management, closed a $100 million Series D funding round. Lark plans to use the funds to expand its virtual care integrations to more payers. The company will also use the funding to further invest in research and development to continue advancing its innovative data science and conversational artificial intelligence (AI) that power its platform. Lark’s AI-driven platform is used by health plans and employers to engage members and help members adhere to their care plan to manage chronic health conditions. The platform helps reduce the daily burden of chronic condition management on care teams and clinical professionals.
The round was led by Deerfield Management Company. The funding round also includes crossover fund PFM Health Sciences, as well as returning investors Franklin Templeton, King River Capital, Castlepeak, IPD, Olive Tree Capital, and Marvell Technology cofounder Weili Dai.
Lark is a health care technology company aimed at delivering infinitely scalable, virtual chronic and preventative healthcare through conversational AI. Lark’s platform provides scalable personalized counseling and consumer engagement. The platform can help payers transform how they deliver care digitally, whether they need to quickly stand up a virtual primary care experience or close care gaps for people living with chronic conditions. Lark currently works with many of the largest health plans and across four programs: Prevention, Diabetes Prevention, Diabetes Care, and Hypertension Care. Lark is a covered benefit for over 30 million lives. In late 2020, Lark entered an expanded relationship with Anthem-affiliated health plans to power digital coaching through the health plans’ mobile app and to become the preferred provider for its Diabetes Prevention Program.
This was reported by Lark Health on October 13, 2021.