ANN ARBOR, Mich., Oct. 4, 2017 /PRNewswire/ -- JOOL Health, the leading provider of scalable, digital Precision Well-Being™, announced a Series Seed Preferred investment of $4.5 million led by Grand Rapids, Michigan based CVC JOOL Investors, LLC. CVC has invested $1.6 million with additional funds from Tappan Hill Ventures, Michigan Angel Fund, Wakestream Ventures, and angel investors. This financing will accelerate product development, marketing, and sales efforts. Robert C. Boylen, Managing Principal of CVC, will join JOOL Health's Board of Directors.
"I like big ideas that can change an industry, but I invest in people," said Boylen. "My excitement and commitment level came from the fact that in JOOL, I have both – a game-changing product that comes along with a proven visionary and respected thought leader surrounded by a seasoned leadership team to see potential become reality. JOOL is uniquely positioned to positively impact people, their organizations, and their community."
JOOL Precision Well-Being™ is the world's first digital health solution based on the science of purposeful living – a behavioral approach associated with positive health outcomes, including lower risk of heart attack, Alzheimer's Disease, and depression; improved self-care of chronic health conditions; greater resiliency under stress; and greater productivity along with fewer sick days.
"We are extremely pleased to see such strong interest from the Michigan investment community," said Vic Strecher, PhD, MPH, founder and CEO of JOOL Health. "We have a tremendous group of investors committed to JOOL and enthusiastic about JOOL's impact on individual well-being and organizational performance. We're excited to have additional resources to maximize our growth." The highly successful fundraising (almost three times the average investment floor for companies in the Other Technology sector) is a great indicator of investors' confidence in and commitment to JOOL Health's future.
About JOOL Health
Since 2014, JOOL Health has pioneered the next generation of scalable life and health engagement solutions – JOOL Precision Well-Being™. The JOOL solution combines the newest research on purpose, advanced data science, and proven principles of behavior change to help individuals live a more vibrant and purpose-driven life – JOOL activates personal engagement and greater self-awareness that leads to effective, sustained behavior change. Employers and healthcare organizations benefit from healthier, more engaged employees, patients, and members while gaining unique and valuable insight into population health and well-being. To learn more about JOOL Health's innovations, please visit joolhealth.com.
SOURCE JOOL Health