Welltok grabs $33 million to advance CafeWell population health tool
Welltok pulled in $33.7 million in a new round of funding and said it plans to use the investment to build out its CafeWell Health Optimization Platform.
CaféWell enables population health managers to coach and inspire their clients to get healthier. The enterprise-level platform curates and connects consumers with benefits, resources and rewards, and it provides personalized action plans for each individual.
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Welltok’s technology-enabled services leverage advanced analytics to derive meaningful consumer insights and multi-channel communications to drive consumer engagement.
Weltok customers include payers, employers, Medicare and Medicaid, pharmacy benefit managers and providers. The company also plans to expand into new market segments, according to CEO Jeff Margolis.
Participants in the new funding round include New Enterprise Associates, Bessemer Venture Partners, Georgian Partners, Emergence Capital, InterWest Partners, Sigma Partners, HLM Venture Partners, Flare Capital Partners, Trustmark, Qualcomm Life Fund, Hearst Health Ventures, Singapore-based EDBI, Okapi Venture Capital and Miramar Ventures. The company’s debt facility was provided by Silicon Valley Bank.
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