KNOXVILLE (TN), February 27, 2019
Lirio, a behavior change AI company that uses personalized engagement to improve health outcomes, today announced that it has closed a Series A funding round of just under $10 million. The round was led by noted technology investor Bill Hambrecht of WR Hambrecht + Co via its Hambrecht Ducera Growth Ventures (“HDGV”) partnership.
“We’re tremendously excited to welcome Bill Hambrecht and HDGV as an investor in Lirio,” said Mike West, CEO. “Bill and his team have long and successful careers making investments in transformative technology companies, and this investment in Lirio is validation of our team, product, and business model.”
HDGV was joined in the round by prior investors, including company founders and high net-worth individuals. The Series A round brings Lirio’s total funding to almost $22 million. Funding will primarily be used for product development.
“Our investment decisions are driven by a proprietary machine learning solution that can predict a startup company’s likelihood of success,” said Hambrecht. “Since Lirio first came on our radar a few years ago, they went from barely registering to very strong growth. We are confident that Mike and his team are building a company that will disrupt traditional healthcare markets in a meaningful way.”
Hambrecht founded Hambrecht and Quist investment bank, which was acquired by J.P. Morgan, and later WR Hambrecht + Co, which is credited with popularizing a Dutch auction technology used by Google in their IPO. Apple, Adobe, Google, and Genentech are just a few of the companies, amongst others, Hambrecht has taken public. He has served on the boards of Motorola and AOL.
Lirio’s behavior change AI platform moves people along their unique journey to better health through person-centered communication. The company brings together the power of behavioral science with artificial intelligence to learn the most effective way to communicate with people in a particular context. That insight is applied to create personalized behavior change programs for health systems and large employers — resulting in improved engagement and outcomes.
Lirio Media Relations Contact:
Patrick Hunt, Chief Evangelist
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