Remote diabetes data management app Glooko raised $30 million in a Series D round of funding.
Health Catalyst Capital led the financing with participation from existing investors Canaan Partners, Georgian, Novo Nordisk, Insulet, and Mayo Clinic.
Glooko said the new proceeds would accelerate organic growth and strategic initiatives across its broad and growing product line of advanced digital health solutions. The proceeds will also accelerate the company’s remote patient monitoring platform’s adoption, widening commercialization of products in clinical research and expanding into additional therapy areas.
According to Glooko, its app connects people with diabetes and their healthcare professionals, enabling telehealth, clinical research, and improved collaboration. The app empowers diabetes management by collecting and unlocking the power of data from blood-glucose meters, CGMs, insulin pumps, pens, and activity trackers – bringing insights together in one place, the company said.
The app is compatible with the vast majority of diabetes devices available, giving people with diabetes and their care teams the freedom of choice. Over 3 million people use the app to manage diabetes data insights in 27 countries across 20 languages.
“Glooko has done a remarkable job of bringing to market cutting edge digital healthcare platforms, which empower people with diabetes to better manage their disease and improve their lives. This technology enables physicians to take better care of patients with diabetes by strengthening the engagement between people with diabetes and their healthcare providers,” said Charles Boorady, Founder & Managing Partner of Health Catalyst Capital.
“As a result of Glooko’s innovations, the company has experienced rapid market adoption growing its global ecosystem to more than 7,500 clinics and has entered into partnerships with many of the world’s largest diabetes medical device companies and pharmaceutical companies as well as top healthcare systems. We look forward to supporting the company in its next phase of growth as it invests in new capabilities supporting the management of chronic care and serving even more stakeholders.”
Diabetes management apps (focused on blood sugar control, type 2 diabetes, blood pressure, diabetes prevention, and obesity) raised nearly $800 million during 2020. Zhiyun Health, a mobile app for diabetes patients, raised $144 million in a funding round. Virta Health, a type 2 diabetes management program provider through its virtual coaches, raised $65 million in Series D funding at over $1.1 billion.