Digital diabetes management company Glooko has raised $100 million and appointed a new CEO as part of its strategy to accelerate the growth of its data management platform. Following a global search, Mike Alvarez has been named the company’s new chief executive. Alvarez, who previously served as CEO of Qardio, a remote monitoring device maker, brings extensive experience from his leadership roles at Medtronic, St. Jude Medical, and Sanofi.
Alvarez succeeds Russ Johannesson, who led Glooko since 2018. In a LinkedIn post, Johannesson expressed his confidence in Glooko’s future, saying, “Now feels like the right time to hand over the reins and pursue new challenges. I will continue to advise the Board and support the company, the team, and the cause.”
Glooko’s data-driven platform is currently used by over 4.4 million people with diabetes and is employed in more than 10,000 clinics worldwide. It has also been involved in over 20 clinical trials, assisting with patient recruitment and data collection. The company is now aiming to expand its product offering and enhance its work in the life sciences sector.
“I am thrilled to join Glooko at this pivotal moment,” said Alvarez. “I look forward to driving commercial growth by leveraging real-world data to transform chronic condition management and enhance clinical trials with diverse and inclusive populations.”
Alvarez also noted that the healthcare industry is grappling with challenges related to data management and clinical workflows, especially for physicians treating chronic conditions like diabetes. He emphasized Glooko’s ability to simplify decision-making by unifying data from various devices onto one standardized platform, providing healthcare providers with actionable insights.
Glooko’s Series F funding round, led by Georgian with support from Health Catalyst Capital and Canaan, will be used to expand the company’s global product offerings and strengthen its life sciences initiatives. Simon Chong, co-founder of Georgian and chairman of Glooko’s board, highlighted the growing global burden of diabetes, with over 537 million adults currently diagnosed worldwide. Chong expressed confidence in Alvarez’s ability to lead Glooko at a critical point in its journey.
With Alvarez at the helm, Glooko is poised to continue its mission of empowering healthcare providers with innovative tools to better manage chronic conditions.
