WellDoc Raises $22 Million Series B To Scale Its Diabetes Management App

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San Diego-based digital health startup WellDoc has raised a $22 million Series B funding round co-led by Samsung Ventures and returning investor Merck Global Health Innovation Fund. Adage Capital Management, Alexandria Venture Investments, Excel Venture Management, and Hudson River Capital Partners also participated. The new round follows a $20 million Series A that closed in January 2014, and brings WellDoc’s total funding level to $48 million since its 2005 launch, though nearly all of that funding has been raised in the last two years.

In June 2013, WellDoc unveiled its flagship product, BlueStar, an app designed to help people better manage type 2 diabetes. Unlike most digital health apps, WellDoc requires a physician prescription before it can be used because the company monetizes its platform through insurance reimbursement. As such, WellDoc works closely with providers to educate them on the BlueStar app in an effort to increase prescription rates.

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WellDoc’s BlueStar app was called a potential game changer during the 2013 Diabetes Technology Society Meeting after it published early but promising findings from a small pilot study that suggested its new risk algorithms could forecast hypoglycemic episodes up to 24 hours before patients become symptomatic. The study tested algorithms that trended daily glucose readings and used the information to predict hypoglycemia with a 91 percent accuracy, beating trained endocrinologists by 42 percent. At the time, WellDoc indicated that the new algorithm would be subjected to further validation and FDA review, but that it would eventually make its way into the BlueStar platform. However, the excitement that the company generated in 2013 is long gone, yet the new feature has still not been incorporated into BlueStar’s platform.

In its current form, BlueStar is a platform focused on crunching each user’s diabetes management data to identify potential weak spots, and then address those spots by notifying the care team, engaging a motivational coach, and offering additional patient education.


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