Pops

AI Platform for Managing Diabetes

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Company Information

Website:

https://popsdiabetes.com/

Sector:

Medical Devices & Equipment

Location:

Oak Park Heights, MN

Pops is using Artificial Intelligence to help people manage their diabetes.

This medical technology company has created a virtual healthcare assistant named “Mina.” Along with a special glucose monitor, Mina provides 24/7 support for those living with diabetes.

Pops’ product is FDA approved and is protected by 15 issued patents, with 16 additional patents pending.

Clinical data published in 2021 demonstrated that this product led to a sustained, significant improvement in patients’ glucose control. And the company was named a “Most Fundable Company” by Pepperdine in 2018, and captured an award from the American Diabetes Association.

Led by a team with experience working for medical device and technology companies like Medtronic and 3M, Pops is backed by Revolution ROTR, 30 Ventures, and Flying Point.

In 2020, the company secured revenue-generating contracts with notable healthcare customers. And its user growth has climbed by an average of 90% in each of the first four months of 2021.

Pops is using its platform to target the digital therapeutics market, which is projected to reach $19 billion by 2028. About 25% of this figure will be spent on those with diabetes.

In the U.S. alone, 34 million people have diabetes. And that number grows by 4% each year.

Diabetes is one of the most expensive chronic conditions in the world. Yet methods for managing it haven’t changed in 25 years.

Those with diabetes are told to spend time in clinics, chat with doctors via tele-health sessions, and spend time and money on test kits — kits that are too large to carry, require assembly, and can be painful to use.

According to internal research, 75% of people are ready to manage their own diabetes with the help of a virtual health assistant. That’s exactly what Pops provides.

Pops’ assistant Mina provides non-judgmental support whenever users need it. Mina is paired with the Rebel meter, a device used to easily measure blood sugar levels.

Users download the Pops app and register their account. They then receive a welcome kit and test modules. These enable them to take their blood-sugar reading anytime, anywhere.

Through the Pops app, users can monitor trends and receive personalized AI coaching. They can also share data with their doctor or invite family members to send alerts or reminders.

Pops is offered through a business-to-business-to-customer model. The company sells its platform and meter to healthcare providers and select partners, who in turn recommend the service to patients. Providers and partners pay service contracts that are $60 per user per month.

Pops has revenue-generating contracts in place with Zurich Insurance Group, MOBE for Life, and Nice Healthcare.

Down the road, the company aims to expand its platform to create a virtual chronic condition provider. This means monitoring users’ weight, blood pressure, activity levels, and foot and eye health.

Team Background

Lonny Stormo - Co-Founder & CEO

Lonny has 30 years of experience in the medical device industry.

He started as President of Birch Narrows Development, a technology development company focused on the medical industry. He then began a 30-year career with Medtronic (NYSE: MDT), a medical device company, working as an engineer and then Vice President of Diagnostics Quality.

He earned a Bachelor’s degree in Electrical Engineering from South Dakota School of Mines and Technology, and an MBA from Arizona State University.

Curt Christensen - Co-Founder & VP of Operations

Curt has more than four decades of experience in product manufacturing and supply chain.

Prior to Pops, he spent 42 years as a quality manager with 3M, a production company focused on industries including healthcare and consumer goods.. He earned his Bachelor’s degree in Mechanical Engineering from South Dakota State University.

Dan Davis - Co-Founder & VP of R&D

Dan spent 35 years in R&D and operations roles, and has introduced several products into the healthcare field.

He began his career at 3M. During his 10 years there, he served as a business team leader and lab manager.

From there, he became Owner of Lawrence Sign, a manufacturer of custom electric signs. He then became Director of Operations for Otto Bock, makers of prosthetic and orthotic solutions for manufacturing workers.

Dan earned a Bachelor’s degree in Chemical Engineering from the University of Minnesota.

Co-Investors

30 Ventures

A VC firm investing in early-stage healthcare and biotech companies.

Flying Point Industries

A company providing investment capital to early-stage startups.

Revolution

A VC firm whose portfolio includes DraftKings, AppHarvest, and UberMedia.

TreeHouse Health

An organization that assists emerging healthcare companies with business growth and development.

Raising
$3 million
Committed
$2.01 million (67%)
Current Valuation
$25 million Cap / 0% Discount
Min. Investment
$1,000
Deal Type
Title III
(For all investors)
Offering Type
Convertible Debt
Finance History
  • $500K
    2016-02-12
    Unknown
    (Seed)
  • $1.20 million
    2015-12-15
    Unknown
    (Series A)
  • $6 million
    2019-06-28
    Unknown
    (Series A-1)
Notable Investors
  • 30 Ventures
  • Flying Point Industries
  • Revolution
  • TreeHouse Health
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