Intuity Medical, Inc., a Sunnyvale, CA-based company developing novel glucose monitoring technologies for diabetes management, has secured additional funding with a $12m close of a second tranche of its Series D financing.
New investor Accuitive Medical Ventures, joined existing investors Investor Growth Capital (IGC), Thomas McNerney and Partners, Venrock, Versant Ventures and U.S. Venture Partners, who also participated in the funding.
This close brings the total amount raised by the company in Series D round to $76m (read here about the first closing).
Intuity Medical plans to use the funds to obtain FDA clearance and to prepare for U.S. commercialization and distribution of its POGO All-in-One System, which integrates all the traditional blood glucose testing supplies into a self-contained system. It can be combined with Patterns™, the company’s proprietary web-based data management tool, to provide both healthcare professionals and patients a comprehensive shared platform to detect and manage important patterns and trends that impact overall glucose control.
The company is led by President and CEO Emory V. Anderson.