Bravo Wellness, LLC, a Cleveland, Ohio-based provider of innovative outcomes-based wellness programs, raised $22m in a Series A minority investment from ABS Capital Partners.
In conjunction with the transaction, ABS Capital Partners Managing General Partner John Stobo will join Bravo Wellness’ board of directors while General Partner Mark Anderson will be an observer.
The company intends to use the funds to expand its sales and marketing efforts and to continue to innovate and expand its solutions.
Founded in 2008 and led by CEO and Chairman Jim Pshock, Bravo designs and administers outcomes-based wellness initiatives for companies, organizations, brokers and other wellness providers. It provides tailored solutions through a technology platform combined with domain expertise, particularly with regard to compliance and tracking personalized improvement goals. The company’s solutions are based on biometric data (such as smoking habits, body mass index, blood glucose, blood pressure and cholesterol) that give employees the opportunity to impact his or her health as well as the associated insurance premiums. The platform provides employers with a solution for coordinating biometric screenings, tracking incentives and employee compliance, determining reasonable alternatives, resolving appeals and providing the tools for data-driven decision-making.
Customers include Insurance Office of America, Valeo, Graco Inc., Southwest General Health Center and MasterBrand Cabinets, Inc., among others.