Health tech startup Wellth fetches $20m Series B

• Other participants in the round included Frank Williams, co-founder and former CEO of Evolent Health, The Social Entrepreneurs’ Fund, CD Venture and Partnershp Fund for NYC
• In conjunction with the funding, Williams has been named chairman of the Wellth board
• The financing will be used by Wellth to further invest in the behavioral science engine behind the app and in team expansions to support Wellth’s growing member base

Los Angeles-based health tech startup Wellth has raised $20 million in Series B funding.

SignalFire led the round. Other participants in the round included Frank Williams, co-founder and former CEO of Evolent Health, The Social Entrepreneurs’ Fund, CD Venture and Partnershp Fund for NYC.

In conjunction with the funding, Williams has been named chairman of the Wellth board.

The financing will be used by Wellth to further invest in the behavioral science engine behind the app and in team expansions to support Wellth’s growing member base.

“Wellth has solved one of the hardest and most fundamental challenges in healthcare—motivating patients to take action and do what’s best for their health. Wellth’s 91% daily adherence rate amongst its member base is unheard of in the industry,” said Yuanling Yuan of SignalFire, who leads the firm’s healthcare investment strategy, in a statement.

SignalFire has over $1.8 billion in assets under management, The venture firm’s key sectors include AI/ML, developer tools, healthcare, and cybersecurity.

Wellth was founded in 2014.