A diabetes management app from the cofounder of Razorfish, the digital agency behind many Fortune 500 websites, just raised an $8 million funding round. One Drop, an iOS-based dashboard for information from Internet of things-enabled glucose meters (along with food and blood sugar information), received the Series A round from RRE, with additional participation from over four investors. The company raised a previous $1 million from investors this past April.
One Drop is the latest entrant into a super-crowded field of wearables and smartphone apps for diabetics. Because more and more diabetics are being diagnosed and a complicated confluence of Fitbits/Jawbone Ups and Apple Health devices being integrated into daily life, along with the fact that diabetics need to constantly monitor their condition, the field has been fertile entry for startups and biopharm giants alike. However, One Drop has one advantage: CEO Jeff Dachis started one of the world’s most influential digital agencies, and still maintains an impressive Rolodex.
In an interview, Dachis told Fast Company that “One of the weird things about the diabetes industry is that a lot of companies are there to make money from someone with a chronic disease. What we want to do is to reduce the cost and complexity of managing diabetes for anyone with diabetes so they can stay more well, visit the doctor less, and generally be healthier. We think data-driven insights are an approach that will keep people more mindful about the tools they need.”
Dachis, who has type 1 LADA diabetes, declined to state how many users the app has. Next on the agenda, the company says, is developing an Android version.NU