Pops! Diabetes Care said yesterday that it closed a new equity financing round to support the launch of its newly-approved Pops! One blood glucose monitoring system.
The Park Heights, Minn.-based company did not disclose how much money it raised but it did report that 30Ventures led the round.
“We are honored by the support and trust of investors to change diabetes management,” CEO Lonny Stormo said in prepared remarks, “The Pops! team is excited to commercialize our solution and help people with diabetes own their life.”
“We recognized a big opportunity in Pops!, and are very excited to lead this financing and help drive the launch of the Pops! One System. It offers an elegant solution for millions trying to manage their diabetes efficiently, discretely, and effectively,” George Arida, managing director of 30Ventures, added. “The opportunity to see better patient outcomes and make a real cost impact on the most expensive healthcare category in the US – these are two big value drivers that we believe make for a compelling story.”
The company’s device, which won FDA clearance in December, can be attached directly to the back of a mobile phone and interacts with the user through a coaching app. The Pops! One system also allows users to review their blood glucose trends and share the data with family members and healthcare professionals.
