Venture Capital News: Welltok Raises $75M in Series E-2
DENVER, CO, Leading enterprise Software as a Service company for consumer health, announced today that it raised $75 million in a Series E2 funding round.
Welltok, the leading enterprise Software as a Service company for consumer health, announced today that it raised $75 million in a Series E2 funding round with participation from new and existing investors. The financing will carry Welltok through its next phase of growth as well as support continued product development, expansion in new market segments and integration of acquired assets and capabilities.
"What continues to attract investors and customers is the depth and breadth of our platform and services, and our ability to deliver an unparalleled personalized experience for consumers on behalf of their sponsors," said Jeff Margolis, Welltok's chairman and CEO. "No other company has the full spectrum of capabilities required to make big data small in a way that allows organizations to proactively manage the health of a population - one consumer at a time."
Welltok's consumer activation platform systematically applies machine learning to both healthcare and non-healthcare data to understand and predict individual needs. It then connects consumers with relevant ROI-based programs and resources that ultimately activate and engage consumers in their health. Additionally, the company's technology-enabled services leverage advanced analytics and multi-channel communications to reach consumers in ways that they are most likely to be receptive and take action. By optimizing health programming and activating consumers, Welltok powers growth and retention initiatives, impacts healthcare cost trends and defragments the consumer experience for leading payers, employers, health systems, pharma and health services companies.
The additional funding is another significant milestone for Welltok, which won global recognition for its security and privacy capabilities last month. The company also recently acquired Tea Leaves Health, an analytics and consumer marketing technology platform used by 30 percent of the top health systems. The strategic combination is helping propel Welltok's growth in the provider market while enhancing insights derived from consumer and medical data sets. Welltok's proprietary data set, combined with sponsor-provided data, creates the industry's most comprehensive view that informs program design and drives consumer activation.
Participants in the funding round include new investors Future Fund Management Agency, Ziff Davis, NF Trinity Capital (Hong Kong) Limited and ITOCHU Corporation. Additionally, the vast majority of existing investors demonstrated their continued enthusiasm for the Welltok vision, including strong participation from New Enterprise Associates, Bessemer Venture Partners and Georgian Partners.
About Welltok, Inc.
Welltok, the leading consumer health enterprise Software as a Service company, is on a mission to empower consumers to achieve their optimal health. Its award-winning CafĂ©Well Health Optimization Platform connects consumers with available and relevant benefits, resources and rewards by designing personalized action plans. Additionally, the company's technology-enabled services leverage both advanced analytics to derive meaningful consumer insights and multi-channel communications to reach consumers through the right channel with the right message. Welltok drives greater consumer engagement and healthcare value for customers across the healthcare continuum including payers, employers, pharmacy retailers and health systems.
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