Diabetes and obesity management tech developer Glooko announced today that it raised $30 million in a Series D financing round.
Palo Alto, Calif.-based Glooko, which develops remote patient monitoring and chronic care management products including data management technologies for insulin delivery devices, said in a news release that proceeds from the financing will be used to accelerate organic growth and strategic initiatives across its product line.
Health Catalyst Capital led the Series D financing round, while existing investors Canaan Partners, Georgian, Novo Nordisk, Insulet and Mayo Clinic also participated.
“Glooko has done a remarkable job of bringing to market cutting edge digital healthcare platforms, which empower people with diabetes to better manage their disease and improve their lives. This technology enables physicians to take better care of patients with diabetes by strengthening the engagement between people with diabetes and their healthcare providers,” Health Catalyst Capital founder & managing partner Charles Boorady said in the release. “As a result of Glooko’s innovations, the company has experienced rapid market adoption growing its global ecosystem to more than 7,500 clinics and has entered into partnerships with many of the world’s largest diabetes medical device companies and pharmaceutical companies as well as top healthcare systems. We look forward to supporting the company in its next phase of growth as it invests in new capabilities supporting the management of chronic care and serving even more stakeholders.”
Glooko said the financing follows the most successful year in its history in 2020, even despite the impact of the COVID-19 pandemic. The company added key partnerships with healthcare systems and extended long-term existing partnerships with diabetes care companies such as Insulet and Novo Nordisk.
“This is an unprecedented time in healthcare and technology. The demand for our platform demonstrates this sea-change. Glooko has experienced considerable growth, and this funding allows us to build on our strong momentum in providing the advanced technologies we’re known for,” Glooko CEO Russ Johannesson said. “Now more than ever, the healthcare industry is seeking new and smarter technologies, whether it’s for patient care or researching new therapies.”