Wellth, a Los Angeles, CA-based digital health company, raised $20M in Series B funding.
The round was led by SignalFire, with participation from Frank Williams, Co-Founder and Former CEO of Evolent Health (also joining Wellth as Chairman of the Board), and existing investors The Social Entrepreneurs’ Fund, CD Venture, Yabeo and Partnership Fund for NYC.
The company intends to use the funds to further invest in the behavioral science engine behind the app and in team expansions to support its member base.
Led by CEO Matt Loper, Wellth provides a platform that generates lasting behavior change and positive health outcomes by motivating members to follow through on healthy behaviors. The program provides a personalized experience, while rewarding daily progress and helping members build lifelong healthy habits.
Instead of inundating patients with standard texts, messages or unused app downloads, Wellth uses core principles of behavioral economics, such as loss aversion, to tap into natural psychological drivers and motivators to drive members to take more positive steps in their health journey. Patients are tasked to snap a daily photo of their medications, glucose levels or other healthy behaviors. Through this daily interaction, behaviors are trained into habits, which lead to lasting change and positive health outcomes.
FinSMEs
31/03/2023