Glooko has raised $16.5 million in Series B financing from a number of investors, including existing investors The Social + Capital Partnership and Samsung; as well as new investors – Canaan Partners and Medtronic. As part of the deal, Canaan Partners' Wende Hutton has joined the Glooko Board of Directors.
The new capital will be used to expand the company's FDA-cleared, HIPAA-compliant platform to include device data from insulin pumps, continuous glucose monitoring systems and integration of personalized predictive algorithms.
Glooko's unified diabetes platform enables patients to better manage their diabetes and their healthcare providers to proactively engage their diabetes populations via a mobile, cloud-based platform. Using Glooko's Bluetooth-enabled MeterSync device, patients are already able to sync data from more than 30 of the most popular blood glucose monitors (over 90% market share) with their iOS or Android mobile device.
Providers on their end get to benefit from the data Glooko structures via its population management tool Population Tracker, a population management tool, and via integration into other platforms, such as an Electronic Health Record (EHR). They can also engage at-risk patients before costly intervention and hospitalizations occur, create reminders for improved treatment plan adherence, integrate data from popular fitness trackers and biometric tools, and allow patients to record food intake and insulin dosage to provide context around changes in their blood glucose readings.
Glooko has already managed to corner few partners, including the Joslin Diabetes Center, and US care leaders such as the Diabetes & Glandular Disease Clinic (DGD) and Atrius Health, to name a few. Providers, health systems and payers can currently track patient progress, proactively manage and take action with at-risk patients and drive intervention programs with Glooko. By adding data from insulin pumps, continuous glucose monitoring systems and integrating personalized predictive algorithms into its platform, Glooko will bring more utility to patients who require intensive, day-to-day glucose management, and make it easier for healthcare providers to get a full picture of a patient's health so they can proactively treat them.