Glooko, the maker of a digital platform for managing diabetes and other chronic diseases, has secured $100 million in Series F funding and announced Mike Alvarez as the company's newly appointed CEO.

Georgian led the round with participation from Canaan, Health Catalyst Capital, and other investors and business partners. 

Alvarez formerly held the CEO role at Qardio, a remote patient monitoring and healthcare technology company for chronic disease management. Before that, he held leadership positions at medical devicemaker Medtronic, pharma company Sanofi and St. Jude Medical, which was acquired by Abbott.

WHAT IT DOES

Glooko offers healthcare technology and a personalized, connected healthcare platform for individuals with chronic conditions to help manage their condition. The company works with providers, offering a remote patient management platform, research products for clinical trials and medical devices for managing conditions. 

The California-based company will use the funds to scale its product expansion globally.

"The healthcare industry is currently navigating significant challenges related to data burden and clinical workflows, particularly for physicians working with patients to manage chronic conditions," Alvarez said in a statement. 

"I am thrilled to join Glooko at this pivotal moment in its journey. I look forward to continued commercial acceleration as we leverage real-world data to transform chronic condition management and improve enrollment and management in clinical trials through diverse and inclusive populations."

MARKET SNAPSHOT

In January, Glooko announced a partnership with Better Therapeutics to integrate the digital therapeutics company's AspyreRx digital behavioral treatment for type 2 diabetes into Glooko’s diabetes-management platform.

Last year, the company announced a partnership with pharma company Sanofi to integrate SoloSmart with the Glooko platform. SoloSmart is a device intended for use with SoloStar and DoubleStar insulin injection pens, which records insulin data and time of injection and allows users to see that data via the Glooko app. 

In 2022, the company acquired Berlin-based xbird, a health AI company that develops Just In Time Adaptive Intervention technologies for patients and providers in order to predict behavior and manage diabetes. 

It also purchased Paris-based DIABNEXT, a company that offers a digital health platform to help people with diabetes manage their condition and connect with their healthcare provider.

In 2021, Glooko raised $30 million in Series D funding in a round led by Health Catalyst Capital.