Health tech start-up Welltok secures $75m in latest funding


Health tech start-up Welltok secures $75m in latest funding

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Denver-based consumer health software service company Welltok has raised $75 million in a Series E2 funding round with participation from new and existing investors.

The company said that the capital injection will support Welltok's next phase of growth, in addition to continued product development, expansion in new market segments and integration of acquired assets and capabilities.

Jeff Margolis, Welltok chairman and CEO, said: “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."

"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,” Margolis noted.

Welltok’s platform systematically applies machine learning to both healthcare and non-healthcare data to understand and predict individual needs. It also offers ROI-based programs and resources aimed at engaging consumers in their health.

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. Welltok powers growth and retention initiatives that impact healthcare cost trends and defragments the consumer experience for leading payers, employers, health systems, pharma and health services companies.

Welltok, Health, Technology, Consumer, Funding, US, Denver