Insulet, Mayo Clinic get in on Glooko’s $35m Series C round

June 27, 2017 By Brad Perriello Leave a Comment

Insulet (NSDQ:PODD) and Mayo Clinic were among the new investors to get in on a $35 million Series C round for Glooko and its diabetes management platform.

The round was led by new investor Georgian Partners, joined by Insulet and Mayo Clinic and existing backers Medtronic, Samsung, Canaan Partners and Social Capital, Mountain View, Calif.-based Glooko said. The proceeds are earmarked for expanding the company’s sales, marketing and development teams; boosting its commercial footprint in France, Germany, the U.K., Asia and the Middle East; and data analytics and AI development projects.

Glooko’s platform is designed to integrate data from blood glucose monitors and other devices with either an Apple (NSDQ:AAPL) iPhone or Google (NSDQ:GOOG) Android application. Food intake, medication and insulin dosage can also be recorded to provide context for changes in blood glucose readings. Data from meters and devices is sent to Glooko’s cloud-based Population Tracker, where patients and providers alike can view and analyze the data, and make decisions about interventions and treatments.

“This additional funding will help us to further our mission: to improve the lives of people with diabetes,” CEO Rick Altinger said in prepared remarks. “With this capital, we will accelerate our 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.”

“Glooko has demonstrated great traction and growth. Its scalable, device-agnostic platform not only meets the needs of people with diabetes, it also benefits health insurance plans, employers, pharma and health systems that want to effectively manage large populations of people with diabetes,” added Georgian Partners managing director Simon Chong. “We are excited to become a part of the Glooko investment team, working with Glooko on its analytics-driven approach to delivering both personal and clinical support to the diabetes community.”

Glooko, which raised a $17 million Series B round in March 2015, merged with Diasend in September 2016. Insulet and Glooko are not newfound friends; in January last year Insulet launched a Glooko-linked data management system for its OmniPod insulin management device.

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