Kivo Health, a San Francisco telehealth company that treats people with chronic obstructive pulmonary disease (COPD) at home, has raised a $10m Series A round led by Allumia Ventures. Axios Pro first reported the round on 23 October 2026, and Kivo says on its Y Combinator profile that it has just raised its $10m Series A.
Y Combinator, MassMutual Ventures, Liquid 2 Ventures and the UCSF Rosenman Institute also invested, according to a Dealroom summary of the Axios report. The company did not publish a press release, and it has not disclosed a valuation or how it plans to spend the money.
What Kivo Health does
Kivo describes itself as an AI-powered virtual care provider for older adults with chronic disease, starting with lung conditions. Its main service is pulmonary rehabilitation, a structured programme of exercise, breathing training and education that doctors prescribe for COPD but that many patients struggle to reach because it is usually delivered in person at hospitals or clinics.
Kivo's programme runs for nine weeks and takes place at home. According to its website, patients receive a kit with a tablet that has its own cellular connection, an oxygen monitor and exercise bands. They begin with a one-to-one assessment with a respiratory therapist, then join small-group video classes twice a week to learn breathing techniques and exercises, with health coaches providing support between sessions.
The company says patients in its programme improve their symptoms by 24% and their physical activity by 34%, and that median attendance is 83%. It cites a peer-reviewed study for these figures. They are the company's own numbers and could not be independently checked.
The pitch to health plans
Kivo sells mainly through health insurers and health systems. Its website lists Medicare, Medicaid and several commercial insurers among the plans that cover the programme, and says many patients pay nothing out of pocket. In December 2025, the Michigan insurer Priority Health announced a partnership to offer Kivo's at-home COPD care to its Medicare, Medicaid and dual-eligible members.
According to Dealroom, Kivo says COPD affects about one in nine Medicare Advantage members and that high-risk patients cost 2.9 times more than members without the disease. The company projects a 3.1-times return for health plans, or nearly $10m in savings per 100,000 members. These are company projections.
Dealroom noted that the business will depend on showing clinical results and winning more contracts with payers and health systems.
The team
Kivo was founded in 2021 and went through Y Combinator. Its Y Combinator profile lists two founders: Victor Sadauskas, who completed his medical residency at Stanford and spoke to Axios Pro about the round as chief executive, and Vaughn Koch, the chief technology officer, a serial founder whose earlier start-up Movity was bought by the property site Trulia. The profile puts the team at 40 people. The company's job listings are based in Seattle.
Remote care for lung disease has drawn other investment this year. Dealroom pointed to Wellinks, which raised $10m in August 2026 for remote monitoring and virtual care in chronic respiratory disease.
Company website: kivohealth.com