Total amount raised
$195.7 Millions
Latest funding date
Location
Lark has successfully raised significant funding through multiple rounds, with its latest being a Series D round. The company offers a digital health platform that provides virtual care through AI coaching, smart devices, and tele-monitoring.
Keep reading to explore the intricacies of Lark's fundraising journey and the investors backing this innovative platform.
What Is Lark?
Lark, founded in 2011 by Jeff Zira and Julia Hu, is a digital health startup based in Mountain View, California. The company specializes in providing virtual care through AI coaching, smart devices, and tele-monitoring.
With a focus on chronic disease prevention and management, Lark offers programs such as the Diabetes Prevention Program, Wellness Program, Diabetes Care Program, and Hypertension Program. Their platform combines AI with human coaches to deliver personalized, real-time support.
Currently, Lark employs between 101 and 250 people, working to revolutionize healthcare through innovative technology and dedicated care.
How Much Funding Has Lark Raised?
- Seed Round
- Amount Raised: $1M
- Date: May 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the company.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Additional capital to support early-stage development and operations.
- Seed Round
- Amount Raised: $3.1M
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and further develop the AI coaching technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market reach.
- Series B
- Amount Raised: $21.6M
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand into new markets.
- Series B
- Amount Raised: Not publicly disclosed
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and technological advancements.
- Series C
- Amount Raised: $55M
- Date: October 2020
- Lead Investors: King River Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of AI-driven health programs and expand partnerships.
- Debt Financing
- Amount Raised: $15M
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for scaling operations.
- Series D
- Amount Raised: $100M
- Date: October 2021
- Lead Investors: Deerfield
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand virtual care integrations and invest in R&D for AI-driven chronic disease management.
Total Amount Raised: $195.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Deerfield Management Company
- Details: Deerfield Management Company is a healthcare investment firm that focuses on advancing healthcare through investment, information, and philanthropy. They have a strong track record in supporting innovative healthcare solutions.
- Investment Focus Areas: Healthcare, life sciences, medical technology
- Notable Investments: Not publicly disclosed
- King River Capital
- Details: King River Capital is a venture capital firm that invests in technology-driven companies. They aim to support high-growth businesses with innovative solutions.
- Investment Focus Areas: Technology, innovation, growth-stage companies
- Notable Investments: Not publicly disclosed
- PFM Health Sciences
- Details: PFM Health Sciences is an investment firm specializing in the healthcare sector. They focus on biotechnology, pharmaceuticals, and healthcare services.
- Investment Focus Areas: Healthcare, biotechnology, pharmaceuticals
- Notable Investments: Not publicly disclosed
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization. They offer a wide range of investment solutions and have a significant presence in the financial services industry.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- Olive Tree Capital
- Details: Olive Tree Capital is a venture capital firm that invests in technology and growth-stage companies. They aim to support businesses with high potential for innovation and growth.
- Investment Focus Areas: Technology, growth-stage companies
- Notable Investments: Not publicly disclosed
What's Next for Lark?
With the recent $100 million Series D funding, Lark is poised to expand its virtual care integrations to more payers, leveraging the growing demand for AI-driven healthcare solutions. This opportunity is substantial, as Lark is already a covered benefit for over 30 million lives, and the new funds will further enhance their AI platform and research capabilities.
Future fundraising seems likely, given the successful Series D round and the ongoing expansion efforts. As Lark scales, they may attract additional investments to support further growth and technological advancements. However, challenges such as seamless integration with existing systems and maintaining personalized care quality as they scale will need to be navigated carefully.
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