A Denver-based health technology company, which just acquired a healthcare communications company called Silverlink, has raised $45 million in a round led by Canadian venture capital virm Georgian Partners.
“This is our second investment in a healthcare platform and we will undoubtedly do more,” Steve Leightell, a Principal on the Investment Team at Georgian, said of his firm’s investment in Welltok. “Through our exploration of dozens of companies we have come to the belief that in healthcare, even more so than in other industries, deep experience and ability of the team to execute will separate the winners from the rest.”
Welltok has taken on the challenge of helping healthcare consumers better understand the options, programs and coverage available to them while helping them make healthier decisions. The platform (CaféWell) uses machine learning to help individuals easily navigate complex coverage plans (corporate, private, medicare, medicaid) in plain English. For example using CaféWell Concierge you can enter simple queries (“is my son Andrew covered for orthodontics”) and get the information you need in real-time, on your mobile device, at the doctors office or wherever you are.
The platform also will build customized health itineraries for you and your family, Leightell says, challenge you to make healthier choices, and reward you for doing so. You can tie in your Fitbit, Pebble, Apple Watch and so on. Its cool stuff, and it’s the right way to get folks motivated and moving.
“We have already rolled up our sleeves and are spending time with their impressive data science team working on automated insights across the various audiences that the platform touches,” Leightell added.