Health IT, Devices & Diagnostics, Startups, Patient Engagement

One Drop nets $8M to further develop mobile diabetes management tools

The mobile health startup secured funding from RRE Ventures.

Informed Data Systems Incorporated, a digital consumer health company with a focus on diabetes care, announced today that closed an $8 million Series A to support the development of its mobile diabetes tracker app, One Drop. RRE Ventures led the financing round.

The funding will go towards expanding development of the app’s software, hardware, and services platform to accelerate adoption of One Drop among users, self-insured employers, and insurers, a company statement said.

RRE Ventures Managing Partner Stuart Ellman will join Informed Data System’s board along with investors from LAUNCH FUND, Capital Factory, Neu Ventures and BoxGroup.

Funding will allow One Drop to focus on data growth for its integration and analytics platform in hopes of bringing its connected glucose meter and app subscription to the market. The fresh capital will also help in establishing deeper relationships with payers and further mobile platform development to maximize usefulness. It is also working with a manufacturer to develop a fashionable glucose meter which it hopes to launch in 2016.

Founder and CEO Jeff Dachis launched One Drop to make it easier for people with diabetes to track their blood glucose levels and see how others in an anonymous community manage their conditions. It is the only diabetes management platform that allows blogging and a community of people living with diabetes to share information with each other.

In an interview with MedCity News earlier this year, Dachis said that one of the main issues the mobile app addresses is showing users how other diabetics stay within safe blood-glucose levels. Additionally, he said its big data analytics, mobile community, connected devices and subscription service sets One Drop apart from competitors.

 

Photo: One Drop

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