During the pandemic, the company saw 80 percent growth in the use of its remote solutions
COVID, of course, isn’t a disease anyone wants, but it’s even worse for people with certain comorbidities. This includes diabetes, which affected 34.2 million people of all ages or 10.5 percent of the population in the United States in 2018. That’s 13 percent of all adults in the United States.
One company that has been in an excellent position over the past year to help people manage their diabetes, whether or not they have had COVID, was Glooko, a provider of solutions for remote patient monitoring and the treatment of chronic conditions associated with diabetes and obesity.
That’s why the company made its remote care offering free of charge to any healthcare system, hospital, clinic, or provider who wanted to use it worldwide. Russ Johannesson, CEO of Glooko, told me an offer that more than 200 healthcare systems, hospitals and clinics around the world have accepted. the free COVID-19 offer.
“Our mobile application for patients is always free, always has been, always will be. However, we felt it was an important step to offer clinics a remote care management solution that is available free of charge around the world. This was an important step in ensuring the safety of people with diabetes and allowing them to continue to be seen by their doctor to manage their condition without the risk of having to visit the clinic in person, “said he.
Meanwhile, the company had his too “Most successful year to date” in 2020 with growth of 30 percent; it is now expected to grow 50 percent further this year and next. Glooko saw one too Since the beginning of the pandemic, the use of its remote solutions has increased by 80 percent.
This growth is the reason why the company has now launched its first round of financing since 2017 and a $ 30 million Series D funding round on Tuesday led by Health Catalyst Capital. Existing Investors Canaan Partners, Georgian, Novo NordiskInsulet and Mayo Clinic are also participating, bringing their total funding to $ 115 million.
“We have seen phenomenal growth over the past year and expect that pace to accelerate both this year and next. Of course, growth is driving funding needs,” he said Johannesson.
Founded in 2010, tThe Glooko is a solution that integrates 95 percent of all diabetes devices on the market, supports their partners’ hardware, and integrates device data for healthcare providers, researchers and patients.
For healthcare professionals, the company provides networked care solutions for healthcare systems and clinics that allow providers to remotely manage their diabetes and obesity patient populations. ÖOn the patient side, they can easily set goals, track their medication, log their food intake and collect data from multiple devices such as activity trackers, weight scales, blood pressure cuffs, insulin pumps / with the Android and IOS compatible mobile app from Glooko. Pens and glucometers.
“The app turns the data into actionable insights for patients and healthcare providers to determine better treatment plans, and enables remote monitoring and the treatment process of patients that so many are using today,” said Johannesson.
There are now over 1 million people with diabetes actively managed through the Glooko platform. Over 7,500 clinics worldwide use the platform in 27 countries and 20 languages. the New funds will be used in part to continue geographic expansion, including in LATAM and APAC.
It is also used to expand the company’s commercial efforts to scale its global go-to-market activities and invest in additional research and development to expand the Glooko product offering Increase Glooko’s patient adoption of remote monitoring platform.
“Our growth in remote patient monitoring has grown exponentially over the past year. Going forward, we will continue to improve our RPM platform capabilities to make it easier for healthcare providers and payers to use our platform to effectively monitor and treat patients remotely.” he said to Johannesson.
In the short term, the next step for Glooko is to convert all international clinics that took over their platform during the pandemic into paying customers. In the long term, however, the company will expand beyond diabetes into other therapeutic areas, including cardiovascular, kidney, liver and eye diseases as well as behavioral health.
“Almost 98 percent of people with type 2 diabetes have at least one comorbid illness and 90 percent have at least two comorbid illnesses. These are natural growth areas for our platform.”