Wellth, a Brooklyn, New York-based behavioral economics startup, raised $5.1m in Series A funding.
– Boehringer Ingelheim’s Venture Fund,
– AXA Venture Partners,
– New York Life Insurance Company,
– NFP Ventures Fund,
– Leonard Schaeffer,
– the Partnership Fund for New York City, and
The company intends to use the funds to continue to expand the team and the platform.
Led by Matt Loper, CEO and co-founder, Wellth works with insurers and risk-bearing providers to motivate patient behavior change and adherence to treatment through the use of financial incentives and behavioral economics strategies. Its solution is served through a mobile patient experience that includes daily contextual and personalized nudges as well as quick ‘check-ins’ for daily medications.
The company focuses on better understanding and improving patient behaviors in costly chronic diseases where poor patient adherence is a major driver of preventable hospitalizations, readmissions and other costs, including Type 2 Diabetes, Congestive Heart Failure, Cardiovascular Disease, COPD, Asthma and Behavioral Health.