Mobile health company Wellmo raises €1.3 million in funding
Posted: 21 April 2017 | Niamh Marriott (Junior Editor: Drug Target Review) | No comments yet
The market of preventive digital health services is estimated to be worth several billion euros in the near future.
The mobile health platform company Wellmo has raised 1.3 million euros in its first round of funding. The funding by institutional and private investors will be used for Wellmo’s continued global expansion.
“Now we can increase our efforts to sales in our key markets: Germany, the Benelux countries and the Nordic countries,” says Jaakko Olkkonen, the Managing Director of Wellmo. The funding will be used to develop the local sales organisation further and to ensure international growth.
“Insurance companies are becoming more and more interested in health services as means to differentiate from competition, expand business, increase loyalty and lower costs,” Olkkonen says.
Wellmo has developed a market-leading mobile health platform that enables insurance companies to create powerful, compelling and scalable health and wellness services. The only pure and comprehensive platform product on the market allows insurance companies to effectively leverage a wide range of third-party apps, international and local health service partners as well as assets they already have built for themselves.
With Wellmo, they can consolidate all into a branded and unified experience to the user ensuring that their offering and business stays relevant and differentiated in the competitive insurance market. Wellmo’s management console gives administrators fundamental insights into their clientele and enables rapid iterative development of services.
Wellmo has already over 20 customers, providing services to a total of 7 million end-customers in seven countries: Finland, Sweden, the Netherlands, Poland, Germany, Belgium and South Africa.
The company’s market potential is huge, “In the near future, the European market of preventive digital health services will be worth several billion euros,” says Jaakko Olkkonen of Wellmo.