Welltok, a US-based digital health company backed by semiconductor technology provider Qualcomm, secured $25m of a planned $37m of series D funding on Wednesday.
Venture capital firm Bessemer Venture Partners led the round, which is expected to close before the end of the year.
Welltok has created a health optimisation platform called CafeWell which is designed for population health managers. The capital will be used to support the company’s accelerated growth and to expand into new markets.
Jeff Margolis, chairman and chief executive officer of Welltok, said: “This new funding round will support our business growth and platform development, and allow us to be even more agile in anticipating and targeting market demands.”
Welltok received $22.1m in its series C round in February this year from Qualcomm Ventures, which acts as Qualcomm’s corporate venturing arm, computing company IBM’s Watson Group, New Enterprise Associates, Emergence Capital Partners, InterWest Partners, Miramar Venture Partners and Okapi Venture Capital.
The company has now raised approximately $70.8m in total since being founded in 2009.