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Glooko nabs $3.5M for diabetes tracking device

The mobile application that automatically logs glucose levels gains strength in mobile health market

Technology trends and news by Krystal Peak
January 30, 2012 | Comments
Short URL: http://vator.tv/n/23ee

 

For those living with diabetes, keeping on top of their health in the easiest way possible is key. A company called Glooko is working to make your iPhone an easy device to track and remind people when to check their blood sugar and connect directly to a device that meters blood glucose. 

Glooko announced its $3.5 million Series A funding on Monday led by The Social+Capital Partnership, with participation from existing investors, including Bill Campbell, Vint Cerf, Judy Estrin and Andy Hertzfeld, Venky Harinarayan, Russell Hirsch and Xtreme Labs. 

Launched at the end of 2010, Glooko is a digital logbook for people with diabetes who have to check their blood sugar every day. While other apps exist to log daily blood sugar stats, Glooko makes a $40 cable that connects to seven of the top glucose meters so that information is directly inputted from the machine. 

The app itself is free and gives space to write notes and share the information later with a healthcare provider via email or fax.

Glooko has also just 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 provides availability in the Canada app store.

With close to 25 million people living with diabetes in the U.S. today, Glooko co-founder and chairman Yogen Dalal wanted to create a way for people living with diabetes an easier way to use all the data collected on the glucose meter. 

In the future, Glooko would like to analyze or offer the data collected for health studies or national data gathering if clients and FDA regulators agree to the power possible from so many consistent and accurate data points.

Glooko currently has more than 1,000 users, and the response to this system of tracking and maintenance has been overwhelmingly positive. Android integration is coming soon and the new funding will be used to expand to other platforms and for user acquisition.

The mobile health space

Over the last two years, more companies have been moving into the health space because the demand for more products and services has been extremey strong. There are health forums popping up such as Doximity and HealthTap, where those with medical concerns can connect directly with physicians or physicians can connect with one another about medical issues.

The mobile health market is forecasted to exceed $400 million in the next handful of years but often has its challenges since any medically-accepted communities must adhere to the strict HIPAA regulations.

There are also apps that connect to devices, much like Glooko, such as FitBit, JawboneUP and Nike's new Fuleband, where daily activity and food intake are tracked to help keep people moving and healthy.

The mobile health market will likely see some even more exciting additions this year, and hopefully more in the disease manintence category so that those living with conditions can look no further than there phone for assistance.

 


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