WellTheory, a digital health company that treats autoimmune diseases, announced Tuesday that it has raised $14 million in Series A funding that will help the company scale and advance its artificial intelligence business.
Atherton, Calif.-based WellTheory treats autoimmune diseases such as Addison's disease, celiac disease, multiple sclerosis and lupus. It uses a collaborative care model, working with patients' doctors to provide personalized plans focused on nutrition, stress, sleep and exercise. The company offers video conferencing, unlimited expert messaging and diagnostics. It serves employers and health plans.
The Series A round was led by General Catalyst, with participation from 7wireVentures, Ingeborg Investments, Accel, Box Group, Leaps by Bayer and Up2 Opportunity Fund. WellTheory has raised a total of $26.2 million.
“WellTheory is addressing the impact of autoimmune disease by recognizing the important role diet and lifestyle play in supporting patients. The platform is demonstrating how to deliver this support at scale, and that's just the beginning. It is expanding to integrate medical and medication management, creating a more comprehensive model designed to improve the patient experience and enhance system sustainability,” General Catalyst partner Candace Richardson said in a statement. Richardson will join the WellTheory board of directors.
WellTheory CEO and co-founder Ellen Rudolph said the financing will help expand Welltheory's partnerships with new and existing customers.
“We will expand programs targeting some of the most costly autoimmune diseases and accelerate the development of our artificial intelligence capabilities,” she added in an email. “These efforts will help us deliver whole-person autoimmune care at scale—improving the quality of life for our members while delivering significant cost savings to our partners.”
Since entering the commercial market about 18 months ago, WellTheory has secured several major employer clients, including Dayforce, Fortune Brands Innovations and Maven Clinic. The company also announced in June that it was partnering with Sentara Health Plans.
The funding announcement comes as more than 50 million Americans battle autoimmune diseases, including rheumatoid arthritis, lupus and multiple sclerosis. The autoimmune therapy market is expanding rapidly and will be worth more than $166 billion by 2024.
Rudolph said WellTheory's ultimate goal is to scale up to meet that demand.
“We are entering our next phase of growth focused on expanding access to our model through new employer and payer partnerships, investing in artificial intelligence to enable more precise and compassionate care, and continuing to build evidence for our results. … Our north star remains the same: providing high-quality, whole-person autoimmune disease care that is accessible, affordable, and sustainable for patients and the health care system,” she said.
Image: Feodora Chiosea, Getty Images
