Total amount raised
$78 Millions
Latest funding date
Location
Wellthy has developed a platform that supports families and employees through every step of the care journey, offering services like Care Concierge and Backup Care. The company has made a significant impact in the caregiving sector, providing tailored solutions for employers, health plans, and families.
Keep reading to explore the intricacies of Wellthy's fundraising journey and the investors backing this innovative platform.
What Is Wellthy?
Wellthy operates in the healthcare and caregiving services industry, providing comprehensive care solutions for families and employees. The company offers services like Care Concierge and Backup Care, designed to assist individuals through various life stages, including family planning, eldercare, and personal health.
With a team of over 200 experts, Wellthy pairs families with personalized care partners and utilizes tech tools to manage care effectively. The company is recognized for its positive impact on mental health, productivity, and ROI for employers, and has been featured in prominent media outlets.
How Much Funding Has Wellthy Raised?
- Seed Round
- Amount Raised: $4.6M
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its initial caregiving platform.
- Series A
- Amount Raised: $5.1M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: $5.6M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve service offerings during the COVID-19 pandemic.
- Series B
- Amount Raised: $37.2M
- Date: June 2021
- Lead Investors: Rethink Impact
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand partnerships with employers and health plans.
- Venture Round
- Amount Raised: $25.5M
- Date: May 2023
- Lead Investors: Eldridge Industries, Hearst Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive solutions to the global care crisis and expand the platform to support members and caregivers at every stage of life.
Total Amount Raised: $78M. Current Valuation: Not publicly disclosed.
Key Investors
- Citi Impact Fund
- Details: Citi Impact Fund focuses on investments that generate positive social and environmental impact. It is managed by Citi and aims to support companies addressing significant societal challenges.
- Investment Focus Areas: Social impact, affordable housing, healthcare, financial inclusion.
- Notable Investments: Various social enterprises and startups focused on creating positive social and environmental impacts.
- Cercano Management
- Details: Cercano Management is a private investment firm that manages assets for high-net-worth individuals and institutions. The firm typically focuses on high-growth sectors.
- Investment Focus Areas: Technology, healthcare, high-growth sectors.
- Notable Investments: Various technology and healthcare startups.
- Stardust Equity
- Details: Stardust Equity is an investment firm that focuses on innovative and high-growth companies. The firm aims to support businesses that have the potential for significant growth.
- Investment Focus Areas: Technology, healthcare, innovative companies.
- Notable Investments: Not specified in the sources.
- Hearst
- Details: Hearst is a diversified media, information, and services company. It has a broad portfolio that includes investments in various sectors.
- Investment Focus Areas: Media, information, services.
- Notable Investments: Various media companies and digital platforms.
- Eldridge
- Details: Eldridge is a holding company that invests in businesses across various industries. Its portfolio includes companies in insurance, asset management, technology, and media.
- Investment Focus Areas: Insurance, asset management, technology, media, real estate, consumer services.
- Notable Investments: Various companies across multiple sectors, including technology and media.
What's Next for Wellthy?
Wellthy is poised to seize significant opportunities in the caregiving sector, particularly by expanding its services to cover more lives and broadening its work in end-of-life planning and resources. With the recent $25.5 million funding round, the company is well-positioned to enhance care support for teenagers and their families, and to form more partnerships and acquisitions.
Future fundraising opportunities appear promising, given the company's growth trajectory and the involvement of new and existing investors. Wellthy's focus on scaling its business and maintaining a high-quality member experience will likely attract further investments to support these initiatives.
However, challenges such as managing the integration of new acquisitions and ensuring service quality while scaling rapidly may arise. Navigating the complexities of providing comprehensive care solutions across different life stages will be crucial for Wellthy's continued success.
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