Welltory secured an additional $2 million in growth financing from Braavo Capital to expand Welltory Care, its service for people living with chronic health conditions. The financing extends the companies’ long-running partnership.
Braavo has provided Welltory with several million dollars in financing over their relationship to support product and market expansion.
Welltory’s consumer health application is used by approximately 18 million people.
Welltory Care groups users with similar health conditions, physiological patterns, and daily limitations.
The company combines wearable data, self-reported information, peer strategies, scientific research, and medical expertise.
Its technology uses digital phenotyping to identify users with similar physiological and behavioral profiles so that support programs can be tailored to more specific groups.
Welltory launched its first Energy Lab group three months ago with 100 people experiencing post-exertional malaise.
Following early engagement, the company plans to expand the group to 500 participants.
Clinical outcomes are being collected through an institutional review board-approved study.
Welltory plans additional Care groups during the next year focused on migraine, long COVID and chronic fatigue, and irritable bowel syndrome.
The company funds its research and product development internally, while Braavo’s financing will primarily support growth and recruitment for Welltory Care.
KEY QUOTES:
“Most health products are built for the average user, but chronic conditions aren’t average experiences. With 18 million users, we can bring together people whose physiology and daily limitations are unusually similar, then build research and tools around what that specific group actually needs.”
Veranika Zdanovich, CCO of Welltory
“We’re proud to have played a role in that journey and to support work that can improve the health and wellbeing of millions of people.”
Mark Loranger, CEO of Braavo Capital
