Diabetes app maker mySugr, which is based in Austria and the US, raised a few million euros in an investment round led by XL Health and Puspok. Johann Hansmann, an angel investor that has previously invested in Runtastic, also participated. mySugr had previously raised another round from Hansmann and Austria's state owned investment bank, AWS.
mySugr's app recently topped 100,000 registered users, and about half of them are in the United States. The company also has non-direct-to-consumer revenue sources including deals with Sanofi in Austria, Abbott, and Telecom Austria. (Correction: An original version of this article incorrectly stated that Sanofi was mySugr's only B2B customer.)
"Currently mySugr is an application that encourages people with diabetes to take more and active care of themselves," CEO and cofounder Frank Westermann told MobiHealthNews. "The product as it is today is focused on people who need to inject insulin and in the next couple of months you will see more and more products that are developed to help people with type 2 diabetes who do not inject insulin. We will also connect to heart rate devices such as pedometers and scales. That's something that's on our roadmap for the next couple of months."
mySugr offers users two apps, mySugr Junior for children and mySugr Companion. Both apps are designed to help users manage diabetes by logging food, completing challenges and getting reminders. mySugr companion also offers a pro version, which cost $10, and provides users with extra features such as taking pictures of food entries, allowing multi-device sync, and offering multiple report formats for exported data such as PDF, CSV and Excel.
mySugr Junior is meant to be synced to a parent's smartphone so they can keep track of how their child manages diabetes.
"Diabetes is a very complex disease and children are sometimes not able to handle their disease on their own," Westermann said. "What we do with the mySugr Junior application is we connect parents and caretakers with children. Children can calculate blood glucose values or take photos of the foods they eat and whenever they are active with the mySugr junior application, information is pushed to the smartphone of the parents who can then directly see what the child wants to eat. They can see the photo [of the food], and they can react on these events."
One of mySugr's investors, XL Health is a subsidiary of EHR maker CompuGroup Medical, which the company expects will help it become better integrated into healthcare systems.
"Through this connection now with XL Health, we get direct access to more than 400,000 doctors' offices and hospitals," Westermann said. "So very soon when you enter data into your mySugr applications, data is aggregated and you can make it available for your hospital or for your doctor."