The investment arm of Blue Cross Blue Shield of Massachusetts is putting money towards diabetes management, with recent participation in a funding round for California-based Livongo Health.
Zaffre Investments, a wholly owned subsidiary of BCBS of Massachusetts, participated in the $44.5 million funding round, though the amount of the investment was not disclosed. The investment round’s investors included Merck Global Health Innovation Fund, Cowen Private Investments, Sapphire Ventures, Wanxiang America Corp. as well as existing investors General Catalyst, Kleiner Perkins Caufield & Byers, DFJ and 7wire Ventures.
The two-year-old company’s technology features a blood-glucose meter that’s connected to a user’s cell phones. Patient data is processed to prompt personalized analytics and insights, and allows for diabetes educators to view results and provide personalized coaching.
“We’re pretty excited about both what Livongo does and the value that it offers to people with diabetes to help them better manage their diabetes,” said Jason Robart, president and CEO of Zaffre Investments and chief strategy officer for Blue Cross Blue Shield of Massachusetts, in a phone interview. ” And we’re bullish on where we think the company is going.”
Date: April 25, 2016