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

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...
Source: Mass Device - Category: Medical Devices Authors: Tags: Diabetes Funding Roundup Wall Street Beat Glooko Insulet Medtronic Source Type: news