Sunday, 23 July 2017

Glooko raises $35 M for diabetes management

29 June 2017 | News

Glooko plans to use the funding for expanding its sales, marketing and development teams, as well as increasing commercialization efforts in France, Germany, the U.K., Asia and the Middle East.

Courtesy- Pixabay

Courtesy- Pixabay

Glooko, a startup selling data management healthcare service on top of a device-agnostic platform to make it easier for doctors to remotely monitor patients, has pulled in $35 million Series C funding. It had previously raised $36 million in various rounds, bringing the total up to $71 million.

Glooko was founded in 2010 with the mission of making diabetes management easier.  Used by millions worldwide, the company provides relevant insights to the users to help make data-driven treatment decisions.

The company will need to continue to rapidly expand to compete with some of the larger players in the space, like Dexcom and Medtronic.

Glooko plans to use the funding to help it get there by expanding its sales, marketing and development teams, as well as increasing commercialization efforts in France, Germany, the U.K., Asia and the Middle East.

Toronto-based Georgian Partners led the round, along with other new investors Insulet Corporation and Mayo Clinic. They join existing investors Canaan Partners, Social Capital, Medtronic and Samsung Next.

With this capital, Glooko will accelerate the investments in clinical solutions that aim to increase medication adherence, provide personalized insights and prompts that drive behavior change for people with diabetes, and deliver clinical decision support to thousands of clinicians and coaches so they can better support people with diabetes in between office visits.

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