Voluntis Raises $29 Million Series D Round For Diabetes App

2014-04-28_17-07-09

Voluntis, a digital health company headquartered in Paris, France, announces that it has closed a Series D funding round worth $29 million. The round was led by Bpifrance Large Venture and Qualcomm Inc. Additional funding was provided by several returning investors, including: CapDecisif Management, CM-CIC Capital Innovation, and Sham. The round marks one of the largest mHealth investments in 2014, putting it just behind Voalte ($36 million), and Specialists on Call’s ($32 million) for largest mHealth round of the year.

Voluntis was founded in 2001 and for the better part of its first decade, the company focused on entering the population health management market, building a core application called MedPassport that captures, aggregates, and analyzes patient data from the field. The company closed out its first decade boasting 75 percent year-over-year growth from 2009 through 2012.

Since that time, Voluntis has expanded its focus to include a growing portfolio of “companion software,” which is essentially a variety of apps that connect to the MedPassport platform, and that are designed to support patients through the use of either a new medication or a medical device. These apps, and the core MedPassport application, are not marketed to consumers. Instead, Voluntis markets to health systems, pharmaceutical companies, and device manufacturers. Voluntis’ apps are designed to be prescribed along with a medication or device.

The flagship app for Voluntis is its diabetes management app, Diabeo. The app provides decision-making support for patients to help appropriately calculate insulin doses based on patient-specific factors. The app also tracks blood glucose levels, through integration with certain glucometers or through manual entry, and an alert system within MedPassport alerts the responsible provider of any abnormal trends. Work on the app started in 2007, and has passed through three clinical trials since. Voluntis received CE Mark certification for the app in December 2013, but has not yet received FDA certification.

Voluntis also markets an app supporting anticoagulation treatment. The app was produced in partnership with Roche, which manufacturers an INR self-testing device. The app captures the INR values, trends them, and shares the information with local providers that can maintain telemonitoring across its outpatient anticoagulation patients.

Voluntis will use the new funding to expand its presence into the USA. Other than limited marketing of its anticoagulation app, Voluntis has focused its operations on the EU market thus far. With a new office recently opened in Boston, MA, Voluntis will pursue FDA clearance of its diabetes management app, and begin marketing its product line in the US.


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