Boston-based Wellframe announced Monday it has raised an $8.5 million Series A, led by DFJ. The financing comes just five months after the startup secured $1.5 million, and will be used to bolster the growth of its mobile platform, designed to help outpatients stay in close contact with their healthcare providers after returning home from the hospital.
Formation 8, Waterline Ventures and Queensbridge Venture Partners also participated in the round. With the financing, however, DFJ Partner Emily Melton will be joining Wellframe's board of directors.
Melton shared her pride in the team, saying in a statement:
To deliver a disruptive product in the healthcare ecosystem, we look for teams that possess a unique combination of deep industry expertise coupled with consumer product excellence. Wellframe's team delivers on this thesis, and the validation from both the care management suppliers and end consumers so far has been overwhelming. We are excited to support the company as they continue to fulfill their vision that both providers and consumers of care can benefit from the use of technology.
Wellframe has completed several successful clinical trials, and plans to announce a number of commercial partnerships in the coming months. With the app, patients are able to monitor their symptoms and communicate with their doctors and nurses, allowing for a continuous relationship rather than an episodic one.
"We don't believe that technology is a replacement for human care," shared Wellframe Co-founder and CEO Jacob Sattelmair in a statement. "Instead, were bringing together world-class engineers, data scientists and clinicians to deliver a solution that enables our partners to provide a more effective and scalable service that optimizes patient adherence to holistic care plans."
Since closing its seed round earlier this year — powered with the help of athenahealth CEO Jonathan Bush and a personal investment from DFJ Founder Tim Draper — Wellframe has been able to "extensively" grow its team and expand its breadth of care plans offered through its mobile platform, including mental health, diabetes and transplant medicine.
Image via Wellframe
