One Drop Secures $40 Million Series B Funding Led by Bayer to Advance AI-Powered Diabetes Management Platform

On September 18, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical technology company One Drop announced the completion of a $40 million Series B financing round, led by Bayer. One Drop also signed a commercial licensing agreement with Bayer to deploy the One Drop platform across Bayer’s global digital oncology, cardiovascular disease, and women’s health portfolios.

Upon completion of this financing round, Bayer will further develop and utilize One Drop’s data science and predictive capabilities. Additionally, as part of the transaction, Stefan Oelrich, President of Bayer, has joined the Board of Directors of One Drop.

One Drop, founded in 2015 and headquartered in the United States, is a medical technology company. The company has developed an AI-driven diabetes management platform that leverages the power of mobile computing and data science to empower individuals with diabetes to live their best lives. The platform is recognized by the American Diabetes Association.

One Drop has also developed a mobile application. Created by Razorfish co-founder Jeff Dachis and launched on the App Store this April, the app is designed to help patients with diabetes monitor their insulin levels, track recent dietary intake and physical activity, both of which daily influence blood glucose levels.

The One Drop app integrates with HealthKit, CareKit, Health Records, and Siri Shortcuts on iPhone, as well as Google Fit on Android.

Jeff Dachis, Founder and CEO of One Drop, stated, “With today’s global digital infrastructure, nothing should prevent us from delivering high-quality services to those in need. One Drop is leveraging this infrastructure to provide personalized diabetes care to millions of people every day. One Drop delivers exceptional user experiences and products, with the capacity to offer affordable and accessible healthcare services to millions worldwide.”

Oelrich of Bayer stated, “As part of Bayer’s strategy to shape the future of healthcare and establish new digital health businesses, we are investing in integrated digital solutions to improve health outcomes through data-driven approaches. This collaboration enables us to access a world-leading self-care platform for disease management, powered by robust artificial intelligence capabilities, thereby delivering better healthcare outcomes for patients with chronic conditions.”

Bayer AG, headquartered in Leverkusen, Germany, is one of the world’s most renowned Fortune Global 500 companies. With 110,000 employees and 291 subsidiaries spanning nearly every country worldwide, Bayer operates three core business segments: Pharmaceuticals, Materials Science, and Crop Science.

(Compiled by Hu Yifan)