New Funding Enables Continued Expansion of Data-Driven Diabetes Management Platform
NEW YORK, NY -- (Marketwired) -- Jun 04, 2015 -- One Drop from Informed Data Systems Inc., a digital consumer health company focusing on revolutionizing diabetes care, today announced it has closed an $8 million Series A led by RRE Ventures. The funding will enable the company to continue expansion on the development of its One Drop diabetes management software, hardware, and services platform to accelerate adoption of One Drop among users, self-insured employers, and insurers.
Stuart Ellman, Managing Partner at RRE Ventures, will join Informed Data System's Board of Directors with additional investors participating including: BoxGroup, LAUNCH Fund, Capital Factory, and Neu Ventures. The One Drop team is made up of veteran digital transformers, designers, technologists and data scientists, who are passionate about empowering people to live healthier lives through democratized data, and a user-centric design approach to integrated software, hardware and services.
"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," says Stuart Ellman, Managing Partner of RRE Ventures. "It's our strong belief that One Drop as a platform, and Jeff Dachis as an entrepreneur, are going to have a tremendous impact on people living their lives with diabetes."
As One Drop grows, it is pioneering the way diabetes is managed by focusing on digital mobile solutions that drive behavioral change through empowerment, mindfulness and motivation. The platform empowers people to make better choices, achieve meaningful improvements in managing care complexity, and drive significant reductions in the cost of care management over time.
Diabetes directly affects nearly 10% of the US population -- approximately 30 million people (CDC). Include people with pre-diabetes and the disease impacts nearly 100 million people -- or 1 in 3 Americans today, and nearly 500 million people worldwide. In reality, diabetes affects us all. It is the most expensive healthcare problem we have as a society today with $750 billion spent annually on diabetes, pre-diabetes, and diabetes related complications, dramatically affecting taxpayers' wallets and corporate bottom lines. One Drop believes that alongside traditional medical care, the future of healthcare lies in a revolution empowering people to create lasting change in their behavior by arming them with data-driven insights, a community of likeminded real people in real-time, and a simpler, more convenient, and less expensive way to manage diabetes.
"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," says Jeff Dachis, CEO and Founder of One Drop. "It's time to change this. We appreciate this vote of confidence from RRE and our other investors, and from thousands of One Drop users worldwide who have opted for a data-driven consumer focused solution that empowers them to make better choices."
One Drop is the only award-winning consumer diabetes management platform available for people with Type 1, Type 2, pre-diabetes, or diabetes caregivers that enables users to simply and easily log the core behavioral and biometric components of diabetes (Glucose, Food, Insulin, and Physical Activity) in one place, anonymously share that information with a community of similar people, and deliver actionable data-driven insights to everyone on the platform.
About One Drop
Informed Data Systems Inc. is a consumer digital health company founded by Jeff Dachis. Available for free download for iOS and Apple Watch, One Drop harnesses the power of mobile computing and data science to empower people with diabetes to live healthier lives. One Drop will release a connected glucose meter and a supplies subscription service in 2016 as a hardware and service companion to the One Drop iOS and Apple Watch app available now. For more information visit http://onedrop.today/ and download the iOS app: One Drop.
About RRE Ventures
RRE Ventures is a leading venture capital firm headquartered in New York City. RRE invests in products or services enabled by information technology and partners with extraordinary entrepreneurs who seek to disrupt and transform industries. Since its founding in 1994, RRE has organized and managed seven funds (six early-stage and one later-stage) with total committed capital of approximately $1.6 billion. With over 300 investments completed to date, of which more than 50 are in the New York metro market, RRE is considered the most active New York-based early stage technology investment firm.
BoxGroup is an early stage investment fund and actively invests in New York, Silicon Valley, and Los Angeles without geographic constraint. BoxGroup views investing as a journey supporting companies based on conviction in the team. BoxGroup's goal is to back the best entrepreneurs regardless of location or stage. BoxGroup looks to partner with extraordinary entrepreneurs building disruptive technology companies and with visions to create the next generation of category defining businesses. BoxGroup is managed by David Tisch and Adam Rothenberg.
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