How Much Did Wellthy Raise? Funding & Key Investors

Wellthy has successfully raised funds through five venture funding rounds, attracting a total of 16 investors, including notable names like Eldridge Industries and Rethink Impact. The company has also expanded its reach through strategic acquisitions, with Patch Caregiving being the most recent addition.

Keep reading to explore the intricacies of Wellthy's fundraising journey and the investors backing this innovative family care concierge service.

What Is Wellthy?

Wellthy, founded in New York, New York, operates within the Health Care, Medical, and Wellness industries. The company employs between 251-500 people and provides a family care concierge service aimed at supporting families through complex or ongoing care situations.

Wellthy offers services such as Care Concierge and Backup Care, catering to employers, health plans, and families. The company emphasizes a human-led, tech-powered approach, providing personalized care support and navigational tools to improve mental health, productivity, and ROI for employers.

How Much Funding Has Wellthy Raised?

1. Series Unknown
   • Amount Raised: USD 25,500,000
   • Date: May 2023
   • Lead Investors: Eldridge Industries, Hearst Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support Wellthy's continued growth, expand services, and address the global care crisis.
2. Series B
   • Amount Raised: USD 37,207,128
   • Date: June 2021
   • Lead Investors: Rethink Impact
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product offerings.
3. Series A
   • Amount Raised: USD 5,615,996
   • Date: May 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market reach and improve service delivery.
4. Series A
   • Amount Raised: USD 5,100,000
   • Date: January 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product offerings and support growth initiatives.
5. Seed
   • Amount Raised: USD 4,598,296
   • Date: November 2017
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart operations and develop initial product offerings.

Wellthy has raised a total of USD 77,021,420. The current valuation is not publicly disclosed.

Key Investors

• Eldridge Industries
  • Details: Eldridge Industries is a diversified holding company with investments in various sectors. They have participated in multiple funding rounds for Wellthy.
  • Investment Focus Areas: Media, insurance, real estate.
  • Notable Investments: Wellthy, Los Angeles Dodgers, Security Benefit.
• Hearst Ventures
  • Details: Hearst Ventures is the venture capital arm of Hearst Corporation, focusing on early-stage investments. They have been involved in multiple funding rounds for Wellthy.
  • Investment Focus Areas: Media, technology, healthcare.
  • Notable Investments: Wellthy, BuzzFeed, Roku.
• Rethink Impact
  • Details: Rethink Impact is a venture capital firm that invests in female leaders using technology to solve the world's biggest problems. They are one of the most recent investors in Wellthy.
  • Investment Focus Areas: Healthcare, education, environmental sustainability.
  • Notable Investments: Wellthy, EverFi, Ellevest.
• Citi Impact Fund
  • Details: Citi Impact Fund is a venture capital fund managed by Citigroup, focusing on companies that have a positive social impact. They are a new investor in Wellthy.
  • Investment Focus Areas: Financial inclusion, workforce development, sustainability.
  • Notable Investments: Wellthy, BlocPower, MoCaFi.
• Cercano Management
  • Details: Cercano Management is an investment firm that provides capital to innovative companies. They are a new investor in Wellthy.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Wellthy, SpaceX, Robinhood.

What's Next for Wellthy?

Wellthy is poised to seize significant opportunities in the care industry, particularly in end-of-life planning and teenage care support. With a user base of two million and partnerships with major employers, the potential for growth is substantial. The recent $25.5 million funding round will enable Wellthy to expand its services and maintain high-quality care.

Future fundraising opportunities appear promising, given the strong investor interest and the company's strategic acquisitions, such as Lantern. However, challenges lie ahead in scaling operations and integrating new services while maintaining a high-quality member experience. Navigating these complexities will be crucial for Wellthy's continued success.

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