What is Mendor?
Mendor is dedicated to the design, development, and marketing of advanced diabetes management products. The company has successfully launched a revolutionary, user-friendly, portable 3G blood glucose meter coupled with a web-based software application designed for the daily management of diabetes. These products were developed in close collaboration with users and diabetes experts to effectively address the needs of individuals requiring regular blood glucose monitoring. Mendor's commitment to user-centric design and technological advancement positions it as a key player in the digital health and diabetes care market.
How much funding has Mendor raised?
Mendor has raised a total of $145.6M across 4 funding rounds:
Series B
$11.6M
Private Equity
$6.4M
Debt
$8.8M
Private Equity
$118.8M
Series B (2011): $11.6M with participation from Finnvera Venture Capital, Life Sciences Partners, and Finnish Industry Investment
Private Equity (2014): $6.4M led by Finnish Industry Investment, Life Sciences Partners, and Finnvera Venture Capital
Debt (2014): $8.8M supported by IPF Partners
Private Equity (2016): $118.8M featuring i-SENS Inc and IPF Partners
Key Investors in Mendor
i-SENS Inc
i-SENS Inc, known for its CareSens® brand, is a global leader in fast and accurate blood glucose testing, exporting to over 110 countries and holding the number one market share in Korea. They specialize in convenient Point-of-Care Testing (POCT) devices and are developing Continuous Glucose Monitoring (CGM) technology.
IPF Partners
IPF Partners is a specialized financing provider exclusively focused on the healthcare sector, offering tailored debt and equity solutions for commercial-stage digital health, biopharma, and medtech companies. They provide bespoke, low- to non-dilutive debt financing.
Finnvera Venture Capital
Finnvera Venture Capital, owned by the State of Finland, provides financing and guarantees for Finnish enterprises to support their start, growth, and internationalization, sharing risks with other financing providers.
What's next for Mendor?
With the recent major strategic investment and a substantial overall funding history, Mendor is poised for significant growth and scaling. The company's focus on developing advanced diabetes management tools, including its portable glucose meter and web-based software, indicates a strategic direction towards enhancing patient care and accessibility. Future endeavors will likely involve expanding its market reach, further refining its product offerings, and potentially exploring new technological integrations to solidify its position in the competitive diabetes technology landscape. The substantial backing suggests confidence from investors in Mendor's business model and its potential to disrupt the traditional diabetes management market.
See full Mendor company page
