Welltok Completes $37 Million Funding Round With New Investors
DENVER, Jan. 8, 2015 /PRNewswire/ —Welltok, developer of the CafeWell Health Optimization Platform, officially closed its most recent funding round of $37 million. Two new investors join the round, Hearst Health Ventures, a unit of Hearst Corporation focused on investments in health IT and technology-enabled healthcare services, and Catholic Health Initiatives (CHI), one of the nation’s largest health systems. This brings Welltok’s completed funding in 2014 to $59 million.
Hearst and CHI join the Series D round led by Bessemer Venture Partners (BVP) with participation from existing top tier investors, including Emergence Capital Partners, InterWest Partners, New Enterprise Associates (NEA) and Qualcomm Ventures. The new funds will be used to further accelerate thecompany’s impressive growth to date through the launch of new products and services, as well as expansion into new market segments.
“With the capital raised in 2014, we are in a great position to deliver excellence to our existing and growing client portfolio. It also enables us to focus on building new capabilities into our groundbreaking Health OptimizationPlatform,” said Jeff Margolis, chairman and chief executive officer of Welltok.