Well Raises $70M in Series B Funding

Well Logo - Blue

Well Dot, Inc., a Chapel Hill, N.C. and Newton, Mass.-based consumer-focused health improvement platform that combines artificial intelligence, advanced behavioral economic techniques and on-demand human guidance, completed $70m in Series B equity financing.

The round was led by Valeas Capital Partners, with participation a new investor group of 12 prominent CEOs and senior managing partners at top-tier private equity firms. Existing investors General Catalyst and partners of Hellman & Friedman all participated in the round.

The company, which previously raised $40m in a Series A financing in 2020 and $25m in seed funding in 2019, intends to use the funds to continue to scale its operations and expand its platform to deliver enhanced functionality and improved health to an increasing number of members.

Led by Gary Loveman, CEO, and David Werry, president and chief operating officer, Well is a partner to its members, facilitating their persistent engagement with personalized actions, incentives and concierge services to improve their health.  The company applies proprietary algorithms to its library of clinical interventions and guided experiences, enabling the platform to deliver personalized support to its members across a wide range of topics including preventative care, condition management and mental health.

Well now serves thousands of members across many corporate clients and will launch with additional jumbo employer customers in 2022. In addition, the company is working directly with community health organizations and direct-to-consumer offerings in collaboration with leading consumer brands, providing more avenues for consumers to access the platform.

The company has offices in Minneapolis and New York City.