Lark Health Scores $100 Million Series D

<p><strong><span class&equals;"xn-location">MOUNTAIN VIEW <&sol;span><&sol;strong>&&num;8212&semi; <u>Lark Health<&sol;u> has closed a <span class&equals;"xn-money">&dollar;100 million<&sol;span> Series D funding round led by Deerfield Management Company&period; The funding round also includes crossover fund PFM Health Sciences&comma; as well as returning investors <span class&equals;"xn-person">Franklin Templeton<&sol;span>&comma; King River Capital&comma; Castlepeak&comma; IPD&comma; Olive Tree Capital&comma; and Marvell Technology cofounder <span class&equals;"xn-person">Weili Dai<&sol;span>&period;<&sol;p>&NewLine;<p>Lark has raised over &dollar;185 million in equity and debt funding to date&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Empowering consumers to better manage their health and mitigate the impact of chronic conditions is one of the greatest challenges in healthcare&comma; and approaches to the problem so far have resulted in fragmented care that frustrates consumers&comma; payers&comma; and providers alike&period; Lark has created a powerful AI-based platform that enables scalable personalized counseling and patient engagement that integrates and coordinates within the ecosystem to drive improved outcomes in a cost-effective way&comma;&&num;8221&semi; said Dr&period; <span class&equals;"xn-person">Julian Harris<&sol;span>&comma; a partner at Deerfield and an executive with extensive public and private payer experience&period; &&num;8220&semi;We are excited to work with Lark Health to expand their reach and ensure more people across the country have access to personalized&comma; compassionate virtual care&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Lark plans to use the funds to expand its virtual care integrations to more payers&period; With Lark&&num;8217&semi;s powerful AI-driven platform and highly personalized approach&comma; health plans and employers are able to better engage their members&comma; give them the support they need to adhere to their care plans&comma; and help alleviate the daily burden of chronic conditions management on care care teams and clinicians&period; Lark will also use the funding to further invest in research and development to continue advancing its innovative data science and conversational AI that power its platform&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Since the beginning of the pandemic&comma; there is more demand for virtual care than ever before&comma; leaving health plans and providers with an urgent need to deliver seamless virtual care experiences&period; This funding is an incredible validation of Lark&&num;8217&semi;s approach of leveraging conversational AI and data science to help payers transform how they deliver care digitally&comma; whether they need to quickly stand up a virtual primary care experience or close care gaps for people living with chronic conditions&comma;&&num;8221&semi; said <span class&equals;"xn-person">Julia Hu<&sol;span>&comma; co-founder and CEO of Lark&period;<&sol;p>&NewLine;<p>The funding comes during a year of momentum for Lark Health&period; The company has recently added five members to its leadership team and published a <u>study<&sol;u> in <i>Frontiers of Digital Health<&sol;i> examining the engagement of adults 65 years and older with a digital health platform&period; This progress builds on the company&&num;8217&semi;s announcement late last year of an expanded <u>relationship<&sol;u> with Anthem-affiliated health plans to power digital coaching through the health plans&&num;8217&semi; mobile app and to become the Preferred Provider for its Diabetes Prevention Program&period;<&sol;p>&NewLine;