Welltok, a US-based patient management platform provider backed by corporates including wireless technology producer Qualcomm, raised $45m in a series E round yesterday.
The round was backed by Georgian Partners, Flare Capital Partners and EDBI, the investment vehicle of Singapore state-owned Economic Development Board, as well as a range of unnamed, existing shareholders.
Welltok has built a tool dubbed CafeWell, which helps population health managers create personalised offerings for users.
The capital will support further product development and expansion efforts, and part of the round helped to fund Welltok’s acquisition of US-based healthcare marketing platform developer Silverlink for an undisclosed amount.
Founded in 2001, Silverlink’s investors include venture capital firms HLM Venture Partners and Sigma Partners, according to regulatory filings and press releases. It had raised at least $18.8m in funding, but has not disclosed details about all of its rounds.
Welltok has now secured approximately $128m in total equity funding since it was founded in 2009, raising $37m in a January 2015 series D round.
The series D included Hearst Health Ventures, a subsidiary of media and information company Hearst Corporation, healthcare services provider Catholic Health Initiatives and Qualcomm Ventures, Qualcomm’s corporate venturing unit, and healthcare management company TriZetto.
Bessemer Venture Partners, Emergence Capital Partners, InterWest Partners and New Enterprise Associates also invested as part of the January round.
Qualcomm also took part in Welltok’s $22.1m series C round in February 2014, investing alongside computer manufacturer IBM’s Watson Group, Emergence, InterWest, Miramar Venture Partners and Okapi Venture Capital.