Glooko Inc., a Palo Alto, CA-based maker of a FDA-cleared mobile diabetes management system, raised $7m in a Series A-1 round.
Backers included new investors including Samsung Venture Investment Company (SVIC) and Lifeforce Ventures as well as existing investors The Social + Capital Partnership, Sundeep Madra and Yogen Dalal.
The company intends to use the funds to ramp up growth with health providers and payer groups.
Founded in 2010 by technologist Yogen Dalal, mobile app developer Sundeep Madra, and Chamath Palihapitiya and led by Rick Altinger, CEO, and chief medical officer Michael S. Greenfield, M.D., Glooko offers an FDA 510(k) cleared diabetes management system focused on making glucose data accessible to both patients and clinicians. The system includes the Glooko MeterSync Cable and a mobile application – which combined allow for glucose data to be directly transferred from a glucose meter into a mobile device.
The mobile apps (available on both the iOS and Android) integrate into the company’s diabetes management web dashboards, which enable healthcare professionals and care management teams to remotely monitor and identify at-risk patients.