Chapel Hill health tech startup lands $40M in Series A financing

A year after setting up second headquarters in North Carolina, personal health startup Well Dot is getting ready to scale.

On Monday, the firm, which has home offices in Chapel Hill and Newton, Massachusetts, announced it had landed $40 million in first-round funding.

Well’s backers include well-known Silicon Valley venture capitalist John Doerr, along with Cambridge’s General Catalyst and Durham’s Mosaic Health Solutions, among others.

Its founders, David Werry and Gary Loveman, who met while attending the University of North Carolina at Chapel Hill, also contributed to the round.

The close comes after the firm raised $25 million in seed funding last year.

“Funding is for further investments in technology, resources, and scaling for further membership growth,” spokesperson Jude Wierzbicki told Hypepotamus.

The company is also hiring for clinical and engineering roles across its locations.

“The exact numbers are being evaluated,” Wierzbicki said.

Founded in 2019, Well is focused on “personalized, concierge” healthcare powered by its proprietary artificial intelligence-driven (AI) platform and phone-based app.

To engage its users, it sends them reminders, offers clinical and behavioral health tools, and connects them with services and on-demand experts. It also includes a personalized 21-day health journey with rewards and tips.

“As we scale our membership, the efficacy of our AI-driven personalization continues to evolve and further impact our members’ health,” said David Werry, president and chief operating officer.

“We have made significant progress on our mission to be the world’s most effective partner in the advancement of our members’ health and will continue to accelerate these efforts into 2021 and beyond.”


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