European digital health coaching firm Liva Healthcare has secured a new funding round of €24.5 million, led by Brussels-based investment company Verlinvest.  

This fundraise comes in two tranches, bringing the total amount raised by the company to €32 million.

WHAT IT DOES

Liva aims to improve the lives of people at risk of, or living with, chronic conditions such as Type 2 diabetes, obesity, and heart diseases, by driving positive behavioural change through its lifestyle coaching app and programme.

The firm, headquartered in Copenhagen and London, was founded in 2015 by the team behind health information portal NetDoctor.

Liva’s services are used by public healthcare, insurance and life science organisations in Britain, Australia, Ireland, Holland, Belgium, Denmark, Sweden and Finland, with operations currently being setup in Germany and Switzerland.

It is also a partner to NHS England on its National Diabetes Prevention Programme and was awarded an EU grant of €603,405 by the Horizon 2020 project last year.

WHAT IT’S FOR

Liva says the injection will enable it to innovate and grow ahead of a likely Series C in 2022. The firm aims to strengthen its position as a European leader in digital health and lifestyle coaching for chronic disease prevention and management.

MARKET SNAPSHOT

The COVID-19 pandemic has led to a significant shift in acceptance of remote healthcare by European consumers.

Recently, Zurich-based insurtech company, dacadoo launched a lifestyle coaching tool which uses artificial intelligence (AI) to help people live more healthily, through a combination of motivational techniques from behavioural science, gamification principles and social networking.

Greek insurance company, Generali Hellas also launched the health engagement platform My Health IQ in 2020, using dacadoo's technology.

Last year also saw Munich and New York headquartered firm Kaia Health raise $26 million in Series B funding for its digital therapy platform for chronic disease management. It has now partnered with Italian pharma firm Chiesi Group to commercialise its chronic obstructive pulmonary disease (COPD) rehabilitation app in Europe.

ON THE RECORD

André Sode, CEO of Liva Healthcare, said: “This new funding, from one of Europe’s strongest purpose-led, consumer growth investors, will substantially accelerate our expansion in core European markets. COVID-19 has demonstrated how effective remote digital health solutions can be.” 

Simone Sallustio, executive director at Verlinvest, said: “This investment represents a major new entry into digital health for Verlinvest, where technology is fuelling consumer revolutions. Digital healthcare has been vital in getting treatment to patients during the pandemic and this trend will continue as effective virtual programmes give people more flexible healthcare options.”

Rune Bech, cofounder and chairman of Liva Healthcare, said: “This is a major leap for us. Verlinvest will help us to accelerate our ambitious growth plans.”