Diabetes Monitoring Program Glooko Raises $35 Million in Series C Funding
Glooko is a startup that sells a data management healthcare service on top of a device-agnostic platform to help doctors monitor their diabetes patients remotely, and it just brought in $35 million in Series C funding, reports TechCrunch.
Georgian Partners, a Toronto-based equity firm wast he chief investor in the round, joined by previous investors Canaan Partners, Social Capital, Medtronic and Samsung Next, among others according to TechCrunch.
On top of the $36 million procured in previous rounds of funding, Glooko has now totaled $71 million. It told TechCrunch that it has helped over one million patients, through more than 6,000 different providers so far.
Glooko has now thrown its name into the newly booming healthtech sector, and hopes it can compete with some of the bigger names in the industry such as Medtronic and Dexcom.
To expand, Glooko plans on expanding its sales, marketing and development teams with the new round of funding, as well as enhancing its outreach in Western Europe, Asia and the Middle East, per TechCrunch.
CEO Rick Altinger explained the proposed uses for the new money.
“This additional funding will help us to further our mission: to improve the lives of people with diabetes. 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.”