One Drop, a NYC-based provider of digital solutions for people living with diabetes and other chronic conditions, closed on a $34.7m Series C financing.
The round was led by Bayer.
One Drop also received $64m in development fees and potential commercial milestone payments and announced a new agreement with Bayer to jointly develop digital health products for multiple therapeutic areas based on One Drop’s predictive, preventative, personalized self-care platform.
One Drop’s solution is fueled by data, drawing on more than 13 billion diverse health data points from users who have downloaded One Drop over three million times. This data-powered platform enables health predictions delivered through a user-centric experience that provides the right interventions at the right times.
While One Drop currently supports people in the management of diabetes, prediabetes, high blood pressure, high cholesterol, or any combination of these conditions, Bayer’s $64m in development commitments and potential commercial milestones will help expand its solution into Bayer’s focus areas, e.g., cardiology, oncology and women’s health.
Led by Jeff Dachis, CEO and founder, One Drop provides a digital health platform to receive eight-hour glucose forecasts, along with real-time advice for exercise, diet, and lifestyle adjustments, every time they log data in the One Drop app.
By harnessing clinical science, behavioral science and advanced AI, the digital health platform delivers one-on-one coaching and personalized health transformation plans that promote positive behavior change and drive outcomes for all individuals, while reducing costs for their insurers, employers, and healthcare providers. The products and services can be purchased in One Drop’s app (iOS and Android) and at https://onedrop.today, Walmart, Amazon, BestBuy, the Apple Store, and CVS.
FinSMEs
24/08/2020