Glooko collects $100M, plus a new CEO, to boost its diabetes platform

The digital diabetes developer Glooko has collected $100 million and a new CEO to help boost the trajectory of its data management platform.

The company said that after a global search, it has appointed Mike Alvarez to serve as its new chief. Alvarez was previously the CEO of Qardio, a maker of remote monitoring devices such as thermometers and blood pressure cuffs. Prior to that, he took positions at Medtronic, St. Jude Medical and Sanofi.

He’s taking over from Russ Johannesson, who held the post from 2018. In a post on LinkedIn, Johannesson said: “Now feels like the right time to hand over the reins and pursue new challenges. I know the future of Glooko is incredibly bright, and I will continue to advise the Board and support the company, the team, and the cause.”

Glooko said that its approach has been tapped by more than 4.4 million people with diabetes, and used by more than 10,000 clinics worldwide. It also has been employed in more than 20 clinical trials, according to the company, to assist in patient recruitment and data collection. Now, it said it aims to take things “to the next level.”

“I am thrilled to join Glooko at this pivotal moment in its journey,” Alvarez said in a statement. “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.”

“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,” he said. “By unifying data from multiple devices onto one standardized platform, we can simplify decision-making and empower providers to translate vast amounts of data into meaningful insights.”

The company’s series F round was led by Georgian and included backing from Health Catalyst Capital and Canaan, with the proceeds set to elevate Glooko’s global product expansion as well as its work in life sciences.

“Today, more than 537 million adults worldwide are diagnosed with diabetes, and the numbers are projected to grow every year,” said Simon Chong, co-founder of Georgian and chairman of Glooko’s board of directors. “The need for timely, comprehensive and integrated support for healthcare practitioners is critical.”

“Mike brings significant industry expertise, proven leadership and commercial success across chronic condition management and population health, as well as experience with advanced data management technologies,” Chong added. “We believe Mike is the right leader at a key inflection point for Glooko and look forward to working with him.”