Welltok raised $21M more to help fund its Predilytics acquisition

By Aditi Pai
10:44 am

CafeWell ConciergeDenver, Colorado-based Welltok, the health management company that makes the CafeWell Health Optimization Platform, has raised $21.3 million in a mix of equity and security, according to an SEC filing. This brings the company's total funding to at least $94 million to date.

Existing investors include Bessemer Venture Partners, Emergence Capital Partners, InterWest Partners, New Enterprise Associates (NEA), and Qualcomm Ventures. The company raised its previous round in January.

Welltok's SEC filing explains that the funding was raised "in connection with a business combination transaction, such as a merger, acquisition or exchange offer". Welltok confirmed to MobiHealthNews that the amount raised is related to its recent acquisition of Predilytics, a Burlington, Massachusetts-based predictive analytics company, however, it declined to provide any additional details about the deal.

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Welltok has developed an online and mobile platform called CafeWell, which curates health management programs, apps, and tracking devices. CafeWell is not direct-to-consumer, it's only available through employers, health plans, or providers. The site provides users with a personalized health plan including articles, videos, and condition management programs. CafeWell also encourages patients with rewards after reaching health goals and connects patients with coaches and health experts when they need help. 

In March 2014, Welltok announced the acquisition of wellness app maker Mindbloom. Other Welltok features include CafeWell Connect, the company’s health and fitness data partner program, and CafeWell Concierge. The latter was developed thanks to an integration with IBM’s supercomputer Watson. In November 2013, Welltok announced that it would be one of the first companies to leverage Watson. A few weeks ago, Welltok announced that CafeWell Concierge would be rolled out at the Centura Health Heart and Vascular Network, the first provider group to offer the app.

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