Welltok Raises $25 Million to Optimize Consumers’ Health
DENVER, Oct. 15, 2014 /PRNewswire/ — Welltok, developer of the CafeWell Health Optimization Platform(TM), announced it closed on $25 million of a planned $37 million funding round led by Bessemer Venture Partners (BVP). Welltok will close out the round later this year with a select group of innovative organizations from across the healthcare industry. The new funds will be used to further accelerate the company’s impressive growth to-date and expand into new market segments.
“We are gaining great momentum in creating a new market category, and helping drive the industry’s seismic shift to get consumers more involved in optimizing their health status,” said Jeff Margolis, chairman and chief executive officer of Welltok. “This new funding round will support our business growth and platform development, and allow us to be even more agile in anticipating and targeting market demands. We have the necessary runway to achieve our ambitious and challenging vision of delivering an enterprise PaaS solution that makes it possible for population managers to intelligently and effectively partner with and motivate consumers to optimize their health in a personalized, rewarding way.”
A key driver in Welltok’s growth has been the industry’s transformation to a more consumer-centric approach model, and the emerging need for a holistic, engaging solution. Its groundbreaking CafeWell platform allows payers, providers and other population health managers to partner with consumers by guiding and incentivizing them to achieve optimal health.