Backers included Georgian Partners, EDBI (the corporate investment arm of the Singapore Economic Development Board) and Flare Capital Partners, as well as a number of existing institutional and strategic investors.
The company will use the funds to support part of the acquisition, for ongoing product development and market expansion.
Led by Jeff Margolis, chairman and chief executive officer, Welltok develops a consumer enterprise platform for population health managers to guide and incentivize consumers to optimize their health.
The CafeWell Health Optimization Platform collects consumer insights through analytics and leverages cognitive computing to create personalized, adaptive health itineraries to provide health plans and other sponsors with tools to engage, activate and reward consumers.
Welltok’s CafeWell Health Optimization Platform, combined with Silverlink’s engagement technology platform and services, will enable population health managers, including health plans, at-risk providers, government programs (Medicare and Medicaid) and large employers, to reach and influence all types of consumers on an individual level.
It also creates multi-channel paths, called Personal Health Itineraries™, for every user and enables communication through the consumers’ preferred modalities, including wearables, email, web, mobile, SMS text, phone or direct mail.