Portland-based Kannact has more funding to help fuel development of its at-home diabetes management platform.
The 4-year-old startup recently closed $3 million in investment, bringing total funding up to $8.5 million, including $2 million in loans from the company’s founders.
The fresh cash will help Kannact sell its blood glucose monitoring device that automatically logs readings and sends data in real-time to the cloud.
“We take biometric monitoring and make it easy,” Kannact CEO Krishna Rao told GeekWire.
Kannact also employs coaches to help diabetic patients stay on their regimes and answer any questions. Rao said his company can be described as a “pharma,” given that it also employs its own pharmacist and delivers medical supplies like glucometer strips to patients. He added that the real-time monitoring technology combined with the coaching is making a positive impact for patients.
“We want to create a relationship with the patient,” Rao said.
The 20-employee company has two corporate clients and serves about 1,500 users. Rao said the goal is to get up to 10,000 users within the next six months.
