New York City and Austin, Texas-based Informed Data Systems has raised $8 million for its One Drop mobile diabetes management platform. The round was led by RRE, with additional contributions from BoxGroup, Capital Factory, and existing investors LAUNCH fund and Neu Ventures.
One Drop is a direct-to-consumer app for diabetes management, currently available on iOS and Apple Watch. It allows users with type 1, type 2, or pre-diabetes to log their glucose, diet, insulin, and physical activity and share that information anonymously with a community of users. The platform than delivers users actionable insights based on their data.
“Diabetes is a data-driven disease. Despite incredible advances in mobile computing, big data, and the quantified-self movement, healthcare is one of the last areas to see any benefit from the advances digital technology has provided,” Jeff Dachis, CEO and Founder of IDS said in a statement. "It’s time to change this. We are appreciative of this vote of confidence from RRE, our other investors, and from thousands of One Drop users worldwide who have opted for an easy to use consumer focused solution that empowers them to make better choices, and live happier lives."
One Drop integrates with Apple HealthKit, and has a crowd-sourced aspect, allowing users to see each others' insights about particular restaurants on a map, for instance. The free app is currently the only product available from the company, but they plan to use the funding to bring out a connected glucometer and a diabetes supplies subscription service in 2016. The company likens its planned offering to Birchbox's beauty product subscription service.
“The future of healthcare is going to be driven by mobile computing, connected devices and new ways of changing behavior through the use of data," Stuart Ellman, General Partner of RRE, who joined the company's board as part of today's announcement, said in a statement. “This funding represents our strong belief that Jeff Dachis as an entrepreneur and One Drop as a platform are going to have a tremendous impact on diabetes care.”