#Asia EDBI participates in medtech firm Welltok’s US$45M financing round

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Welltok, which has developed a population health management platform, will use the investments to acquire Silverlink and expand to Asia Pacific

EDBI

EDBI, the corporate investment arm of the Singapore Economic Development Board, has participated in the US$45 million Series D-2 funding round of digital healthcare company Welltok.

Georgian Partners and Flare Capital, besides some of its existing institutional and strategic investors, also joined the round.

US-based Welltok, which has developed a B2B2C population health management platform called Caféwell, will use the investment to acquire Silverlink (a healthcare consumer communications company) and support its ongoing product development and market expansion into the Asia Pacific region.

This brings Welltok’s total funding raised till date to over US$100 million.

Also Read: Singaporean MedTech startup CXA is a local success story

“Through its innovative Caféwell platform that applies consumer analytics to personalise health and wellness plans for consumers, Welltok strongly supports Singapore’s drive to promote healthy living. EDBI welcomes Welltok’s expansion into Asia to grow their business with regional healthcare stakeholders through Singapore, leveraging our world class healthcare ecosystem,” said CHU Swee Yeok, CEO and President of EDBI.

Started in 2009, Welltok’s Caféwell platform provides consumers access to an organised ecosystem of wellness and condition management programmes, in addition to the communities and apps available through its health plan. Through a combination of machine learning and cognitive computing, CaféWell automatically personalises a health and wellness action plan for each consumer based on available benefits, consumer lifestyles and preferences, healthcare costs and healthcare status.

The firm has a staff strength of around 210 employees with offices in Colorado, New Jersey, Washington, Massachusetts, and California.

The medtech firm is currently exploring partnerships and collaborations with firms and population health managers in the Asia Pacific region.

EDBI recently participated in the Series C financing round of Coursera, a leading online platform for open-access courses from the world’s top universities.

The post EDBI participates in medtech firm Welltok’s US$45M financing round appeared first on e27.

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