Health IT

Glooko closes $35M Series C round to ratchet up expansion, data analytics capabilities

Glooko also picked up investments from machine learning investor Georgian Partners and diabetes medical device business Insulet Corp.

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Diabetes management software developer Glooko has closed a $35 million Series C round, adding Mayo Clinic and other new investors. Glooko’s goal with the new funding is to deepen expertise in data analytics and continue to fuel commercialization in markets outside the U.S. The financing round follows a steady drumbeat of deals for Glooko across pharma and technology sectors to boost its software capabilities and customer base.

Toronto-based investor Georgian Partners, with a focus on machine learning, led the round, according to a news release. Diabetes medical device business Insulet Corp., another new investor, joined existing investors Canaan Partners, Social Capital, Medtronic and Samsung NEXT in the round.

Rick Altinger, CEO of Glooko, said it would use the funding to accelerate its clinical solutions investments “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.”

The company also plans to use the funding to support commercialization in France, Germany, the UK, Asia and the Middle East.

Mountain View, California-based Glooko has inked deals with medical device and pharma partners such as Roche to integrate data from connected devices like Roche’s Bluetooth Low Energy blood-glucose meter ACCU-CHECK Connect. It is part of Glooko’s strategy to aggregate data from blood-glucose meters and insulin pumps to help diabetes patients and caregivers view that data in the context of activity and diet data collected from other apps.

Through its partnership with Novo Nordisk earlier this year, Glooko will provide access to consumer-focused technology platforms to the drug developer. In return, Glooko has gained access to the pharma company’s extensive customer base and library of educational content, some of which will be integrated into Glooko’s app. Glooko’s deal with Novo Nordisk involves co-developing products to enable personalized support for people with diabetes.

Glooko also partnered with Ascensia Diabetes Care, which Panasonic Healthcare Holdings acquired from Bayer last year. Ascensia received FDA 510(k) clearance for its blood glucose monitor Contour Next One. The deal is intended to give Ascensia broader access to Glooko’s health system partners. In April, Glooko and Fit4D announced a collaboration to provide its network of certified diabetes educators to Glooko’s customers.  Last year, Diasend merged with Glooko to open up the European market for the U.S. business.

Photo: Getty Images

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