Silicon Valley's Glooko bags $7M funding for global expansion for its predictive diabetes care

By VCPOST Staff Reporter

Jan 09, 2014 12:54 AM EST

Glooko announced today that it has secured $7 million in a Series A-1 funding round led by Lifeforce Ventures and Samsung Venture Investment Company. Existing investors Sundeep Madra, Yogen Dalal, and The Social + Capital Partnership also participated in the round, according to TechCrunch.

Glooko was launched in 2011 to assist diabetes patients in tracking medical data through mobile technology. At present, the company now supports transfer of data between 26 glucose meters and across 28 mobile gadgets, the report detailed.

In November, after gaining an approval from the FDA, Glooko expanded its support from iOs to Android gadgets, the report added.

The recent fundraising brings Glooko's total capital to around $11.5 million. With the new funding, the innovative diabetes management firm will focus on the health application of data tracking technology. The firm will aim to leverage patient datasets to be used for predictive diabetes care. This will assist health providers and payer groups in delivering patient data and health care decisions, TechCrunch reported.

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