Total amount raised
$63 Millions
Latest funding date
3/1/2015
Location
Glooko has successfully raised significant funding over multiple rounds, establishing itself as a key player in the connected care space for diabetes and related chronic conditions. The platform offers comprehensive solutions that integrate with various devices and electronic health record systems to streamline healthcare workflows.
Keep reading to delve into the details of Glooko's fundraising journey and the investors who are backing this innovative healthcare platform.
What Is Glooko?
Glooko, founded in 2010, is headquartered in Palo Alto, California. The company was established by Yogen Dalal, Rick Altinger, and Michael Greenfield.
Glooko specializes in providing connected care solutions for diabetes and related chronic conditions. Their platform integrates with various diabetes devices, fitness trackers, and electronic health record systems to streamline healthcare workflows.
With a team of over 200 employees, Glooko aims to improve health outcomes through remote patient management and data integration, serving healthcare providers and patients globally.
How Much Funding Has Glooko Raised?
- Seed Round
- Amount Raised: $1,000,000
- Date: November 2010
- Lead Investors: Chamath Palihapitiya's Social+Capital fund, Bill Campbell, Vint Cerf, Andy Hertzfeld, Judy Estrin, Bumptop founder Anand Agarawala, Kosmix co-founders Venky Harinarayan and Annad Rajaraman, Russel Hirsch, and Xtreme Labs
- Motivation Behind the Round: To develop and launch the Glooko app and its accompanying cable, which connects glucose meters to iPhones for easier diabetes management.
- Series A Round
- Amount Raised: $3,500,000
- Date: January 2012
- Lead Investors: The Social+Capital Partnership
- Motivation Behind the Round: The new funding will be used to expand to other platforms and for user acquisition.
- Series A Round (Second)
- Amount Raised: $7,000,000
- Date: January 2014
- Motivation Behind the Round: To further develop their diabetes management platform and expand their market reach.
- Series B Round
- Amount Raised: $16,500,000
- Date: March 2015
- Lead Investors: Medtronic, Canaan Partners
- Motivation Behind the Round: To expand their platform by integrating with insulin pumps and CGMs, enhance their Population Tracker with predictive analytics, and support the company's mission to improve diabetes outcomes at lower costs.
Total Amount Raised: $28,000,000
Current Valuation: $100,000,000 (~estimated)
Key Investors
- Medtronic
- Details: Medtronic is a global leader in medical technology, services, and solutions. They own a significant share of the U.S. insulin pump market.
- Investment Focus Areas: Medical devices, diabetes care, cardiovascular health.
- Notable Investments: Mazor Robotics, Nutrino Health, Companion Medical.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage companies. Wende Hutton from Canaan Partners has joined Glooko's board.
- Investment Focus Areas: Healthcare, technology, fintech.
- Notable Investments: LendingClub, Ebates, Skybox Imaging.
- The Social+Capital Partnership
- Details: Founded by Chamath Palihapitiya, this venture capital firm focuses on solving the world's hardest problems. Chamath Palihapitiya joined Glooko's board.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: Slack, SurveyMonkey, Box.
- Samsung
- Details: Samsung is a multinational conglomerate known for its electronics and technology innovations. They have been an existing investor in Glooko.
- Investment Focus Areas: Technology, healthcare, consumer electronics.
- Notable Investments: Harman International, Viv Labs, Joyent.
- Bill Campbell
- Details: Bill Campbell was a well-known business executive and coach in Silicon Valley. He was an early investor in Glooko.
- Investment Focus Areas: Technology, startups, mentorship.
- Notable Investments: Intuit, Apple, Google (as a mentor and advisor).
What's Next for Glooko?
Glooko stands at the cusp of significant growth opportunities. With the integration of insulin pumps and continuous glucose monitors, the company is poised to enhance its diabetes management platform. The U.S. diabetes market, valued at $245 billion, offers a substantial user base for Glooko's innovative solutions.
Future fundraising rounds, including a potential Series C, could further bolster Glooko's expansion efforts. Strategic investments from major healthcare players may also be on the horizon. However, the company must navigate challenges such as regulatory hurdles and competition from other digital health platforms.
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