Welltok has secured $21.3 million in a mix of equity and security, SEC filing revealed, noting that the fresh funds were raised “in connection with a business combination transaction, such as a merger, acquisition or exchange offer.”
According to MobiHealthNews, the money will be used to fund Welltok’s recent acquisition of Predilytics, a Burlington, Massachusetts-based predictive analytics company.
Welltok offers CafeWell Health Optimization Platform, which curates health management programs, apps, and tracking devices to help employers cut on their health care spending. The service also encourages patients with rewards after reaching certain goals and connects them with coaches and health experts.
In addition, the company also offers health and fitness data partner program called CafeWell Connect, and CafeWell Concierge, which was developed thanks to an integration with IBM’s supercomputer Watson and is now being rolled out at the Centura Health Heart and Vascular Network.
Welltok’s existing investors include Bessemer Venture Partners, Emergence Capital Partners, InterWest Partners, New Enterprise Associates (NEA), and Qualcomm Ventures. To date, the company has raised at least $94 million.