One Drop, a New York City-based digital platform for chronic care management, announced on Sept. 17 the close of a $40 million Series B funding round led by Bayer, which has also signed on as a commercial partner for the platform.
Under the licensing agreement, Bayer will utilize One Drop's mobile platform and data science and artificial intelligence technologies for the delivery of its own digital solutions in oncology, cardiovascular disease and women's health. Additionally, Stefan Oelrich, president of Bayer's pharmaceuticals division, will join the One Drop board of directors.
One Drop's platform, which is backed by more than 20 peer-reviewed studies, offers AI-powered recommendations and one-on-one coaching to assist patients in the self-management of diabetes and other chronic conditions. It is currently used by nearly 1.5 million people across 195 countries.