POPS! Diabetes Care Inc. Raises New Financing Round for Launch of POPS! one System
OAK PARK HEIGHTS, Minn.--(BUSINESS WIRE)--Jan 3, 2019--POPS! Diabetes Care, developer of the POPS! one blood glucose monitoring system, today announced that the company closed on a new equity financing, led by 30Ventures and joined by other investors. The funding will be used for the company’s launch of its recently FDA-cleared POPS! one System.
“We are honored by the support and trust of investors to change diabetes management,” said Lonny Stormo, CEO of POPS! Diabetes care, “The POPS! team is excited to commercialize our solution and help people with diabetes own their life.”
POPS! one is designed to enable people with diabetes to successfully control their condition without their condition controlling them. More than 30 million Americans have diabetes, and another 84 million have prediabetes, which often leads to diabetes within five years. 1 POPS! offers a new approach to diabetes management – a virtual care solution that liberates people with diabetes through a positive user experience, encouraging sustained use and the opportunity to drive better outcomes and lower healthcare costs.
Ross, a user of the POPS! one System, lowered his A1C by almost a full point during the time he used the device. He said, “The POPS! one System made managing my diabetes a lot easier. The app helped by showing me live feedback and trends on how I was doing.”
“We recognized a big opportunity in POPS!, and are very excited to lead this financing and help drive the launch of the POPS! one System. It offers an elegant solution for millions trying to manage their diabetes efficiently, discretely, and effectively,” said George Arida, managing director of 30Ventures. “The opportunity to see better patient outcomes and make a real cost impact on the most expensive healthcare category in the US 2 – these are two big value drivers that we believe make for a compelling story.”
About POPS! Diabetes Care
The POPS! one System is more than just a glucose monitoring system. It’s a digital health platform that is designed from a person’s point of view and not a diabetic’s point of view. No labels here. You are a person first and POPS! let’s you receive your feedback in a non-invasive and simple way through your phone versus someone watching over your shoulder. We want you to successfully manage your condition without your condition managing you. From the simple ‘POP’ you feel when you get a blood sample to popping in to look at your glucose trends, we are adding a Pop of Personality to diabetes management.
30Ventures is an early-stage healthcare and biotechnology venture capital firm focused on high-potential, capital-efficient companies raising post-seed rounds. These are the best of the Midwest’s recently-seeded ventures, developing innovations that can impact human healthcare. Main focus areas of the fund are digital therapeutics, diagnostics, medical devices/imaging, biotech tools, and water/chemistry technologies. 30Ventures’ principals bring deep experience in commercializing innovation in these sectors and are committed to entrepreneurial success in the Midwest.
1 National Diabetes Statistics Report, 2017, published by the US Centers for Disease Control ( https://www.cdc.gov/diabetes/pdfs/data/statistics/national-diabetes-statistics-report.pdf )
2 “Diabetes, heart disease, and back pain dominate US health care spending”, published by the Institute for Health Metrics and Evaluation ( http://www.healthdata.org/news-release/diabetes-heart-disease-and-back-pain-dominate-us-health-care-spending )
View source version on businesswire.com:https://www.businesswire.com/news/home/20190103005682/en/
CONTACT: Abby Koller
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE HEALTH MEDICAL DEVICES MENTAL HEALTH DIABETES MANAGED CARE
SOURCE: POPS! Diabetes Care
Copyright Business Wire 2019.
PUB: 01/03/2019 03:24 PM/DISC: 01/03/2019 03:24 PM