Digital diabetes management player Glooko has been on a roll and is showing no signs of stopping. The company has picked up $35 million to further develop its technology and expand in a number of geographic regions.
Toronto’s Georgian partners led the financing, with participation from new investors, Insulet and Mayo Clinic. Mountain View, California-based Glooko is already backed by Medtronic, Samsung Next, Canaan Partners and Social Capital, which also joined in the round.
Glooko’s diabetes management platform integrates data from a range of diabetes devices, such as blood glucose meters and insulin pumps, as well as activity trackers. Patients may also enter diet information into the Glooko mobile app. The software then analyzes all of this data to help patients manage their disease. All of the data recorded in the mobile app may be accessed online by patients and their healthcare providers.
Glooko will put its new funding toward improving its artificial intelligence and data analytics capabilities, the company said.
“At the highest level, we want to invest in those areas specifically to help clinicians and care teams, as well as patients, make better and faster data-driven decisions that result in better outcomes at lower cost,” said CEO Rick Altinger. “To do that, we are looking to hire additional data scientists and other staff.”
The company also plans to boost its commercialization efforts in Europe, Asia and the Middle East. Glooko’s merger with Sweden’s Diasend last year gave it a foothold in Europe, and now the combined company plans to hire teams in Germany, France and the U.K.
Since merging with Diasend, Glooko has inked a number of partnerships, including one with diabetes drug titan, Novo Nordisk, to create “digital health solutions” for people with diabetes. While both sides have kept mum on the details, Altinger said the pair is on track to release a product this year.
In April, Glooko tied up with Fit4D, to fold the latter’s tech, which connects patients to certified diabetes educators, including dietitians and clinicians, who coach individuals and help them manage their diabetes. And in June, the company expanded its partnership with Dexcom to enable data to sync with the Glooko app through the cloud in near-real time. Diabetes devices usually sync with Glooko using a USB cable, a Glooko device that transmits glucose meter data to the app via Bluetooth, or through the Apple Health app.