Thursday, January 9, 2014

After Arriving On Android, Glooko Lands $7M From Samsung & More To Bring Predictive Diabetes Care Global

Screen Shot 2014-01-08 at 10.33.48 AMThe proliferation of connected devices, coupled with rapid advances in data analytics and sensor technology, has fundamentally changed the way people interact with and manage their health. Thanks to smartphones and a new generation of smart, wearable gadgets, it’s now easier than ever before to monitor and and analyze a dizzying array of inputs and physiological signals and inputs — from your heart rate and calorie intake to your biorhythms and stress levels. The promise of today’s health apps is that, by leveraging mobility and realtime analytics, they can help Average Joes like you and me transform biometric data into something more substantial Information, knowledge and changes in behavior. While the market continues to brim with all manners of behavioral change and health management apps, only a tiny fraction of startups are addressing an area in which health management and tracking technology could (arguably) have the greatest impact: Chronic diseases and conditions. Glooko launched in late 2011 to bring mobility and data tracking to people living with Diabetes, a population underserved by advances in mobile technology. After all, Diabetes, like any chronic condition, by nature requires constant monitoring from patients — across a number of devices. So, the company set out on a mission to address the lack of interoperability and standardized methods for data transfer among devices (and glucose meters) to finally create a unified diabetes management solution. The effort has begun to pay off, as Glooko now supports data transfer between 26 glucose meters and 28 different mobile devices. For some perspective, compatibility with 26 meters means that it covers roughly 85 percent of existing meters in the U.S., says Glooko’s Vikram Singh. In November, on the heels of approval from the FDA, Glooko took another big step toward device agnosticism, expanding its support from iOS to Android devices — a move which the company says makes it the the “only FDA-cleared mobile diabetes management system to support the transfer of glucose data from dozens of meters to Android devices.” With its coverage increasing, the company is ready to take the next big step, says CEO Rick Altinger, thanks to the help of a few familiar names in the world of mobile technology. Today, the company announcement that it has raised $7 million in a Series A-1 financing round from investors that include Samsung Venture Investment Company and Lifeforce Ventures, with participation from existing investors, The Social +



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