Denver-based Welltok is raising $25 million to further develop its CaféWell Health Optimization Platform, which lets population health managers offer their members customized wellness and condition management programs, including incentives for positive wellness behavior.
The round, led by Bessemer Venture Partners, is part of the company’s planned $37 million it hopes to raise this year to add new features to the offering and get more clients.
Welltok’s platform can potentially provide access to a consumer’s health provider, health plan and employer.“We are a revenue-stage company and growing rapidly,” Welltok’s CEO Jeff Margolis said to VentureBeat. “I, along with leadership, decided we needed the funding so that we would not be distracted as we move into 2015.”
Integrating with popular fitness apps and wearables such as those made by Fitbit, the platform provides insurers and providers with the ability to reward members for walking a certain number of steps each month.
Welltok is not alone in this market; however, unlike competing platforms like Jiff and Limeade, their offering is open enough and can potentially provide access to a consumer’s health provider, health plan and employer.
The company has thus far raised money from Emergence Capital Partners, InterWest Partners, New Enterprise Associates, Qualcomm Ventures, and IBM’s Watson Group, among others.