DarioHealth raises $25.6 million through private placement of preferred stock 

DarioHealth (Nasdaq: DRIO), a provider of health monitoring devices, test strips, and digital health programs aimed at improving chronic condition management (such as diabetes, hypertension, musculoskeletal health, and behavioral health), raised $25.6 million through the private placement of convertible preferred stock.

Most of the funds raised by DarioHealth came from existing investors, with additional contributions from accredited healthcare investors and executives within the healthcare sector.

“I believe that this financing will empower us to execute our long-term growth strategy, which is centered on high-margin, scalable recurring revenues across our B2B and pharma channels. I believe that these steps will enable us to maintain our growth trajectory and strengthen our position in the digital health market,” said Steven Nelson, Chief Commercial Officer of DarioHealth.

In February 2024, DarioHealth acquired Twill, a digital therapeutics company, for $10 million in cash. Alongside the acquisition, DarioHealth raised $22.4 million through the private placement of convertible preferred stock from investors associated with both companies.