New Capital Reflects the Company's Increasing Trajectory and Market Growth
PALO ALTO, Calif., March 16, 2021 /PRNewswire/ -- Glooko Inc., a leading provider of remote patient monitoring and chronic care management solutions including diabetes and obesity has raised a $30 million Series D round of funding. The financing was led by Health Catalyst Capital along with participation from existing investors Canaan Partners, Georgian, Novo Nordisk, Insulet and Mayo Clinic. Proceeds will be used to accelerate organic growth and strategic initiatives across the company's broad and growing product line of advanced digital health solutions.
"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," said Charles Boorady, Founder & Managing Partner of Health Catalyst Capital. "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."
This round of financing follows a successful 2020 for Glooko, the most successful in its history despite the global pandemic. Last year, the Company's growth included key partnerships with major healthcare systems, and extended long-term existing partnerships with several global diabetes industry leading companies such as Insulet and Novo Nordisk.
The new proceeds will accelerate execution of Glooko's commercial strategy, including increasing adoption of Glooko's remote patient monitoring platform, widening commercialization of products in clinical research and expanding into additional therapy areas.
"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," said Russ Johannesson, CEO of Glooko. "Now more than ever, the healthcare industry is seeking new and smarter technologies, whether it's for patient care or researching new therapies. I am excited to lead the team at Glooko in our mission to improve health outcomes by connecting people with diabetes and other chronic conditions with their healthcare professionals."
About Glooko Glooko is transforming digital health by connecting people with diabetes and their healthcare professionals, enabling telehealth, clinical research, and improved collaboration. The company's software platforms empower diabetes management by collecting and unlocking the power of data from blood-glucose meters, CGMs, insulin pumps, pens, and activity trackers – bringing insights together in one place. Data is easily uploaded – remotely via app or in-clinic, securely shared, and visualized in actionable charts and graphs. This creates a solid foundation enabling collaboration and confident treatment decisions. The platforms are compatible with the vast majority of diabetes devices available, giving people with diabetes and their care teams the freedom of choice. Over 3 million users have benefited from diabetes data insights using Glooko's solutions, which are trusted by world leaders in diabetes care, and used in 27 countries across 20 languages. Their US headquarters are located in Palo Alto, CA with European headquarters in Gothenburg, Sweden. Learn more at glooko.com.
About Health Catalyst Capital Health Catalyst Capital Management is an independent fund manager investing in private, growth-stage healthcare information technology and technology-enabled services businesses that seek to improve the human condition and promote value-based care. HCC was formed by a team of experienced healthcare investors and operators seeking profitable investment opportunities, while at the same time seeking to improve the human condition and promote value-based care.