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Welltok secures $22.1m in NEA-led Series C

12 Feb 2014

healthcare ITVenture capital firm New Enterprise Associates (NEA) has led a $22.1m Series C round for healthcare software developer Welltok.

Existing investors Emergence Capital Partners, InterWest Partners, Miramar Venture Partners and Okapi Venture Capital also participated in the round.

The round brought the company’s fundraising total for the past nine months to more than $40m.

Welltok’s health optimisation platform CaféWell helps users organize health and wellness software, devices and apps and that aligns activities with incentives, such as premium reductions for taking actions that lower Body Mass Index.

Head of NEA’s healthcare IT investing practice Mohamad Makhzoumi said, “We are excited to lead Welltok’s new round of expansion capital and believe that its success to date promises enormous potential going forward.

“As Welltok’s vision and the market are rapidly converging, the company is poised to drive optimal health for millions of consumers while delivering significant value for the healthcare system.”

Other companies backed by NEA include biotechnology startup Edimer Pharmaceuticals, which raised an $18m Series B last July.

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