Welltok, a health management platform, announced that it has received $33.7 million in Series E financing. In addition, it has received $13 million in debt financing from Silicon Valley Bank. There are more than a dozen investors, including investment institutions Bessemer Venture Partners, the Qualcomm Life Fund and New Enterprise Associates.
CTO Garcia said the amount of financing will be used to complete the merger integration, enhanced CaféWell health optimization platform, as well as access to new markets, such as Medicare Advantage plans to Medicare Advantage. The CaféWell platform helps people develop personalized health management solutions. The partners have wearable hardware MapMyFitness, FitBit and social networks that record data.
It is worth noting that in 2015, Welltok has acquired three companies, namely multi-channel healthcare communications company Silverlink, predictive analytics company Predilytics and children's evidence-based medicine platform Zamzee. In 2014, Watson has partnered with Watson, the IBM artificial intelligence platform. These new assets, along with the IBM Watson Partner Program, are driving CaféWell to become a third-party, critical platform for the healthcare industry, reaching consumers of all ages and demographics.
According to Crunchbase data, from 2011 to the present, Welltok has received $164 million in investment. This debt financing is not included.
The acquisition of Silverlink in 2015 allowed Welltok to expand its incentives and incentives for health projects. Silverlink also facilitates the printing and mailing of paper documents, which Garcia calls “engagement 1.0â€, which he believes is particularly suitable for the health care population. Silverlink's expertise is in behavioral science and consumer marketing. By combining test and learning methods, Silverlink can determine which channels and information are most effective for individuals to ensure that future engagements are more targeted and personal.
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