Well Health Inc. Secures $45 Million in Series C Funding to Transform Patient Communication for Health Providers, Payers and ACOs
Funding Led By Lead Edge Capital Following WELL’s 100 Percent Cumulative Annual Growth
WELL™ Health Appoints Healthcare Veteran as SVP of Value Based Care & Population Health
Santa Barbara, Nov. 24, 2020 — Well Health Inc., a digital health leader in patient communications, today announced a $45 million Series C funding round led by Lead Edge Capital, bringing total funds raised to $75 million since its founding in 2015. Additional participants include Martin Ventures, the healthcare-focused venture capital firm founded by executive, investor, and entrepreneur, Charlie Martin, and existing investors Jackson Square Ventures, Health Velocity Capital, Summation Health Ventures, Structure Capital, and Freestyle Capital. This is the first investment publicly announced by WELL™ Health and follows more than 100 percent cumulative annual growth every year since its founding. WELL™ Health also announced that industry veteran Dana Gelb Safran, Sc.D. has joined as Senior Vice President, Value Based Care and Population Health.
“WELL delivers what patients expect today – the ability to engage with their healthcare provider as easily as they’d text a friend,” said Guillaume de Zwirek, CEO and founder, Well Health Inc. “Although the pandemic fueled the adoption of digital health by many healthcare providers, patients today expect real-time, personalized communication, an expectation that will never fade. This year alone, WELL technology will enable 200k+ healthcare providers to send more than 1 billion messages with 30+ million patients.”
WELL Health’s intelligent communications hub is the only two-way digital health solution engaging patients throughout their entire care experience from patient acquisition to service delivery and ultimately at their homes. WELL ™Health enables conversations between patients and healthcare organizations through secure, multilingual messaging in the patient’s preferred communications channel: texting, email, telephone, and live chat. By unifying and automating patient interactions across an organization, WELL Health’s technology enables greater efficiency, improved patient experience, better coordination among provider staff, and stronger patient loyalty.
“Improving patient experience is a growing focus for health systems as they face new-age competitors, reimbursement pressure, and rising staffing costs,” said Avery Rosin, Principal, Lead Edge Capital. “As a leader in patient communications, WELL Health enables healthcare providers to deliver exceptional customer service with fewer staff and better business returns. Customers rave about the WELL platform and view the technology as the backbone of their patient engagement strategy. We are thrilled to have led this Series C round of funding.”
Healthcare providers, payers, and ACOs are under tremendous pressure to innovate their patient-engagement methods. In her new role as SVP, Value Based Care and Population Health, Dr. Safran will expand WELL’s uses to improve healthcare quality, outcomes and affordability through partnerships with payers and Accountable Care Organization (ACO) providers.
Previously, Dr. Safran was Chief Performance Measurement and Improvement Officer at Blue Cross Blue Shield of Massachusetts, where she was among the architects of the BCBSMA Alternative Quality Contract (AQC), which catalyzed health care payment reform nationally. Most recently, Dr. Safran was a founding executive team member at Haven, the joint venture of Amazon, Berkshire Hathaway, and JPMorgan Chase. Since 2017, Dr. Safran has served on the Medicare Payment Advisory Commission (MedPAC) as one of 17 federally-appointed commissioners. Dr. Safran is a member of the WELL Health Executive Leadership Team and reports to the CEO.
This Series C news follows a recently-announced collaboration between WELL and Cerner Corporation, an electronic health records (EHR) leader, making WELL Health the patient-communication solution for Cerner’s customers. With solutions for health systems, provider practices, home health organizations, federal qualified health centers (FQHCs) and other provider organizations, WELL Health’s intelligent communications hub integrates with all major EHRs and patient payment platforms safely and securely.
About WELL™ Health Inc.
WELL Health’s intelligent communications hub is the only two-way digital health solution engaging patients throughout their entire care experience. WELL Health enables conversations between patients and their providers and health plans through secure, multilingual messaging in the patient’s preferred communications channel: texting, email, telephone, and live chat. WELL Health helps 200k+ healthcare providers facilitate more than 1 billion messages for 30+ million patients annually. By unifying and automating disjointed communications across healthcare organizations, WELL Health reduces unnecessary provider stress and potential errors, while increasing patient visits and loyalty.
Founded in 2015, WELL Health is based in Santa Barbara, California. WELL Health is currently the highest-rated solution by KLAS in patient outreach. In 2020, WELL Health was named among the Best Places to Work by Modern Healthcare and ranked #170 on the Inc. 5000 list of fastest growing private companies.
About Lead Edge Capital
Lead Edge Capital is a growth stage investment fund with over $3 billion of capital raised since inception, and portfolio companies across the internet, software, consumer, and tech-enabled services sectors – including Alibaba Group, Asana, Bazaarvoice, Duo Security, Signal Sciences, Spotify, Toast, and TransferWise. Lead Edge Capital offers its entrepreneurs flexible capital and extensive domain expertise via its robust Limited Partner Network, a global advisory group of leading executives, entrepreneurs, and dealmakers who have built and run some of the world’s most successful companies. Lead Edge Capital leverages its LPs to connect companies with the customers, partners, talent, and advisors needed to accelerate success. Lead Edge Capital was founded in 2009 and has offices in New York City and Southern California.