Last week b.well Connected Health, a patient-facing health management platform, landed $16 million in Series A investments, led by UnityPoint Health Ventures, with participation from ThedaCare and Well Ventures.
This investment comes with multiple new board seats, with UnityPoint Health Venture’s Austin Duke and ThedaCare’s Dr. Imran Andrabi both joining the board.
WHAT THEY DO
b.well aims to help curb patient information overload by bringing various data points together. The platform connects a patient’s health records, financial information, wearable data and more, while gamifying the user experience so clients can earn points and rewards.
“We are living in a world where there are half a billion digital health applications living on the US cloud. It is impossible to manage health or engage in health because no one has that much room on their smartphone,” Kristen Valdes, CEO of b.well, said last year during HIMSS 19's Venture Connect event. “To make matters worse, over 80% of healthcare decisions in our country are made by women. This means that we have this scenario in chaos for everyone we care for.”
WHAT IT’S FOR
While the company didn’t specify exactly how the new funds would be used, it did hint at ongoing growth efforts.
“Over the past five years b.well has successfully partnered with self-insured employers, payers, health systems and providers by providing them the software to configure and launch their own unique digital health strategy with a sharp focus on consumer experience. Building on this strong foundation, and with increased demand for digital delivery of health services that support population health and value-based care models, we are now focusing on our growth strategy," Valdes said in a statement. "We welcome the opportunity to work with our new directors to advance our mission to help individuals take control of their healthcare experience."
As more information becomes available, startups are looking for ways to make that information easier to digest for patients. 1upHealth is another health data aggregation and centralization platform, which recently landed $2.38 million in seed funding.
ON THE RECORD
“Aligned with our mission of improving the health of our community, our partnership with b.well will empower patients by putting their health information at their fingertips and providing peace of mind,” Andrabi said in a statement. “On this journey to population health, we will take our expertise outside of our walls and provide people with tools to live their best life.”