Welltok, a health optimization platform for consumer health, announced today that it raised $75 million in a Series E2 funding round with participation from new and existing investors including New Enterprise Associates, Bessemer Venture Partners and Georgian Partners. Participants in the funding round include new investors Future Fund Management Agency, Ziff Davis, NF Trinity Capital (Hong Kong) Limited and ITOCHU Corporation.The latest financing round 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.
CaféWell Health Optimization Platform
Founded in 2009, Welltok’s CaféWell Health Optimization 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 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.
“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.”