Wellframe Closes $8.5 Million in Series A Financing
Boston, MA and Menlo Park, CA (PRWEB) September 08, 2014 -- Wellframe, a Boston-based company that combines mobile technology and artificial intelligence to amplify caring clinical relationships by engaging patients in personalized care plans, announced today that the organization has closed on $8.5 million in financing, led by DFJ, with participation from Formation 8, Waterline Ventures and Queensbridge Venture Partners.
“To deliver a disruptive product in the healthcare ecosystem, we look for teams that possess a unique combination of deep industry expertise coupled with consumer product excellence," said DFJ Partner Emily Melton, who joins Wellframe's board of directors. "Wellframe's team delivers on this thesis, and the validation from both the care management suppliers and end consumers so far has been overwhelming. We are excited to support the company as they continue to fulfill their vision that both providers and consumers of care can benefit from the use of technology."
Wellframe focuses on enabling healthcare stakeholders to amplify and extend caring relationships through the use of mobile technologies, utilizing artificial intelligence and machine learning to maximize patient engagement. The company has completed several successful clinical trials with top-tier academic medical centers and plans to announce a number of commercial partnerships in the coming months.
“We’re working with forward-thinking organizations committed to extending the reach of care management resources to improve patient care,” said Jacob Sattelmair, Wellframe CEO and Co-Founder. “We don’t believe that technology is a replacement for human care. Instead, we’re bringing together world-class engineers, data scientists and clinicians to deliver a solution that enables our partners to provide a more effective and scalable service that optimizes patient adherence to holistic care plans.”
“Wellframe’s team has developed a highly sophisticated solution that is intuitive and user friendly- a hallmark of a top-flight engineering team,” said Chris Kelley, Formation 8 Partner. “They have assembled a truly great group of technologists, and we’re very bullish on the plans we’ve seen. Wellframe not only has the vision to re-engineer the way healthcare is delivered, but also the talent to make this vision a reality.”
Wellframe closed a $1.5 seed round earlier in 2014 with investments from leading entrepreneurs and investors, including, athenahealth CEO, Jonathan Bush, and a personal investment from DFJ Founder Tim Draper. Since that time, Wellframe has extensively grown its team and radically expanded the breadth of care plans offered through its mobile platform, including mental health, diabetes, transplant medicine and a number of others.
To learn more about the Wellframe solution, please visit http://www.wellframe.com.
About Wellframe
Wellframe is a Boston-based Health Technology company that combines mobile technology, artificial intelligence and human-centered clinical process design to amplify healthcare resources and improve patient care. Wellframe partners with leading health plans, providers and other healthcare stakeholders to extend the reach of care management services to support patients toward improved experience, care plan adherence and health outcomes. Wellframe's team is composed of clinicians, engineers, data scientists and service professionals dedicated to re-engineering the delivery of healthcare services in order to provide higher value healthcare for patients.
For more information on Wellframe, visit http://wellframe.com.
About DFJ
DFJ is a venture capital firm that partners with extraordinary entrepreneurs who are changing the world. Since 1985, DFJ's core funds have raised $4B, which has been deployed in more than 300 portfolio companies, including AdMob, Baidu, Box, Hotmail, Skype, Solarcity, SpaceX, Tesla Motors, Tumblr, Twitter and Yammer. DFJ works with companies at seed, early and growth stages, with the goal of partnering with entrepreneurs to build iconic and lasting businesses. DFJ works with companies at seed, early and growth stages, with the goal of creating iconic and lasting businesses. Learn more at dfj.com.
Shelley Harrison, Wellframe, http://www.wellframe.com, +1 781-467-9596, [email protected]
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