$3.5 Million Series A Financing Will Fuel Product Innovation, Market Penetration
January 30, Palo Alto, California – Glooko, provider of a unique hardware device and app solution for people with diabetes, today announced a $3.5 Series A financing round, led by The Social+Capital Partnership, with participation from existing investors. The funds will enable Glooko to rapidly deliver new releases of its integrated solution and extend its reach to the 25 million people living with diabetes in the U.S. today.
Chamath Palihapitiya, Founder+Managing Partner of The Social+Capital Partnership (“s23p”) joins the board.
Joining s23p in Glooko’s financing is a stellar list of investors including Silicon Valley luminaries such as Bill Campbell, Vint Cerf, Judy Estrin and Andy Hertzfeld; seasoned investors such as Venky Harinarayan of Cambrian Ventures and Russell Hirsch of Prospect Venture Partners; and Xtreme Labs, a Canadian mobile applications development firm.
Glooko’s breakthrough solution consists of the Glooko MeterSync Cable that plugs into most standard self-monitoring blood glucose meters and the Glooko Logbook app for iOS devices that automatically creates a digital logbook of readings, allows users to review daily blood sugar levels, annotate them and share the results with their physician. The product debuted in November, and has since been hailed by users and bloggers for it’s ease-of-use and ability to provide context to daily data collected by people with diabetes.
“Proactive and ongoing self-management of one’s health can now be a reality using mobile devices and well-designed software,” said Palihapitiya. “Glooko has made important progress in helping individuals better manage one of the most pervasive diseases of our generation.”
In related news, Glooko today released a new version of the Glooko Logbook app that supports the Bayer’s Breeze 2 meter, including a real-time food database, a 30-day logbook, and availability in Canada. Glooko Logbook can be downloaded from the iTunes App store and the Glooko MeterSync cable can be purchased from www.amazon.com in the US and www.well.ca in Canada.
“By recruiting a team of experts and employing an efficient development process, we were able to deliver an FDA Class 1, full-featured solution in 1 year and with $1 million in seed capital,” said Yogen Dalal, Glooko co-founder and chairman and a seasoned Silicon Valley venture capitalist. “ With the ubiquity of mobile devices and the user drive toward the quantified self, we are excited about the potential to transform the lives of people with diabetes.
About Glooko
Glooko™ is an innovative Silicon Valley startup with a unique solution for people with diabetes. Our products enable users with smartphones to easily collect and view the information needed to help them successfully control their blood glucose levels. For more information, visit www.glooko.com or email [email protected]
About The Social+Capital Partnership
The Social+Capital Partnership is a stage-agnostic fund focused on backing exceptional entrepreneurs in the areas of healthcare, education, financial services and internet technologies. The Social+Capital Partnership is based in Palo Alto, CA.
