Linkwell Health Raises $11 Million C Round in Funding led by WellPoint
WellPoint, Spark Capital and HLM Venture Partners Back Unique Multi-Channel Consumer Engagement Company that Inspires Healthy Living for Americans
NEW YORK, Jan. 30, 2013 /PRNewswire/ -- Linkwell Health, an innovative developer of health and wellness consumer engagement platforms, today announced that the company has raised $11 million in Series C funding led by WellPoint (NYSE: WLP), the nation's leading health benefits company. Existing investors Spark Capital and HLM Venture Partners also participated in the round. With a unique model of consumer engagement that brings together health plans, better-for-you brands and retailers, Linkwell Health will use this new round to extend the breadth and reach of its platform to consumers across multiple channels.
Linkwell Health's unique distribution platform reaches the members of 22 major health plans, including Humana, Health Net, and WellPoint. The 100 million members of these health plans receive valuable content through their health plan websites, email, mobile apps and direct mail. In addition to this content, members gain access to coupons for better-for-you products. This combination of useful content with high-value coupons is empowering consumers to make better health decisions, while saving them time and money. Meanwhile, the better-for-you brands offering these coupons – such as such as Kellogg's, Campbell's, Unilever and Proctor & Gamble – are achieving higher trial and repeat purchase habits than competitive media in the marketplace.
"There is no question that consumers want help in getting healthier, and Linkwell Health is making that happen with an innovative platform and top-tier partners," said Linkwell Health CEO Gregg Michaelson. "The company's market momentum combined with this new round of funding, which includes support from the nation's leading health benefits company, will give Linkwell Health the fuel to bring consumer engagement to the next level."
"Linkwell Health is inspiring a self-improvement revolution," said Spark Capital General Partner Alex Finkelstein. "They already have an extraordinary distribution network anchored by the top health plans and work with major consumer brands. The company's unique model to wellness is gaining impressive traction with both consumers and health care businesses, and we are excited for what the future holds."
About Linkwell Health
Linkwell Health (www.linkwellhealth.com) develops proven engagement programs to improve the health and wellness of Americans. The company links together health plans, better-for-you brands and retailers to encourage positive lifestyle change through simple approaches. Linkwell Health creates customized, turnkey incentive and guidance programs for health plans to distribute to their members. Targeted offers and online solutions make it easier and more affordable for members to choose healthier options.
At WellPoint, we believe there is an important connection between our members' health and well-being—and the value we bring our customers and shareholders. So each day we work to improve the health of our members and their communities. And, we can make a real difference since we have more than 33 million people in our branded health plans, and approximately 64 million people served through our subsidiaries. As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin. In a majority of these service areas, WellPoint's plans do business as Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross and Blue Shield of Georgia and Empire Blue Cross Blue Shield, or Empire Blue Cross (in the New York service areas). WellPoint also serves customers throughout the country as UniCare and in certain California, Arizona and Nevada markets through our CareMore subsidiary. Our 1-800 CONTACTS, Inc. subsidiary offers customers online sales of contact lenses, eyeglasses and other ocular products. Additional information about WellPoint is available at www.wellpoint.com
About Spark Capital
Founded in 2005, Spark Capital is a tight-knit group of partners managing approximately $1,000,000,000 across three funds. Spark invests across a number of key market segments including: advertising & monetization, commerce & services, cloud & infrastructure, social, mobile and content. Spark's portfolio includes companies such as Twitter, Tumblr, Foursquare, AdMeld, OMGPOP, ThePlatform and 5Min. The Spark team has previously backed notable companies such as Akamai Technologies, Qtera, Aether Systems and Novatel Wireless.
About HLM Venture Partners
HLM Venture Partners is a leading venture capital health care investor, having provided over $400 million in capital to some of the most dynamic, innovative companies. With offices in Boston and San Francisco, HLM is focused on building sustainable companies and profitable exits—benefiting both entrepreneurs and investors. HLM is uniquely positioned to provide insightful guidance on a range of health care industry issues. Longstanding relationships with the senior leadership of some of the country's largest and most innovative health care organizations enables HLM to provide practical, actionable and meaningful advice and introductions. Emerging health care companies rely on the expertise of HLM Venture Partners with a depth of health care industry knowledge that is unmatched.
CONTACT: Laura Maas, +1-781-966-4124
SOURCE Linkwell Health
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