One Drop announced $40 million in Series B financing, led by pharmaceutical company, Bayer. Additionally, Bayer has entered a commercial licensing agreement to use One Drop's platform in Bayer's global bio-digital efforts in therapeutic areas such as oncology, cardiovascular disease, and women's health. Stefan Oelrich, the President of Bayer Pharmaceuticals, will join One Drop's Board of Directors.
One Drop's integrated platform offers an easy way for people to track and manage a variety of health conditions. With A.I.-powered behavioral recommendations, dedicated one-on-one coaching recognized by the American Diabetes Association, and thousands of app and device integrations, One Drop provides personalized health programs to drive sustainable behavior change as part of a diabetes management plan. Through the new licensing agreement, Bayer will leverage One Drop's data science and predictive capabilities, and harness its mobile platform to deliver innovative bio-digital solutions across a broad array of therapeutic areas.
"With today's global digital infrastructure, there should be nothing that prevents us from delivering quality care to everyone who needs it. One Drop is leveraging this infrastructure to provide evidence-based, hyper-personalized diabetes support to millions of people each day," said Jeff Dachis, One Drop Founder and CEO. "As a new investor and commercial partner, Bayer is validating One Drop's superior user experience, modular and extensible product offering, and ability to bring affordable, accessible healthcare to millions of people worldwide."
"As part of our strategy to shape the future of healthcare and build new businesses in digital health, we are investing in integrated digital solutions to improve health outcomes through data driven solutions", said Stefan Oelrich, Member of the Board of Management of Bayer AG and President Pharmaceuticals. "This collaboration allows us to obtain access to a world leading self-care platform for disease management beyond the boundaries of medicines with strong artificial intelligence-driven capabilities that could lead to better healthcare outcomes for people with chronic conditions."
Through industry-leading integrations, One Drop has become one of the fastest growing diabetes management solutions worldwide, used by nearly 1.5 million people in 195 countries. The One Drop app supports HealthKit, CareKit, Health Records, and Siri Shortcuts on iPhone, supports Google Fit on Android, and integrates directly with Fitbit and Dexcom on both iPhone and Android devices.
One Drop's efficacy has been established in more than 20 peer-reviewed studies, which show that people with diabetes using One Drop decreased their A1c (average blood glucose levels) in as little as one month. Ninety-two percent of people using One Drop's AI-powered Predictive Insights report that they find the information helpful in their diabetes management.