Wellth raises $20M to continue motivating users towards healthier behaviours

Digital health company Wellth, has announced it has raised $20M through a Series B funding round. The digital health company uses behavioural economics to encourage people to prioritise their health. 

Wellth uses behavioural economics combined with machine learning to build custom programs and motivate users towards healthier behaviours. The Wellth app uses principles such as loss aversion to engage with the psychological drivers necessary to encourage users to pursue healthy behaviours. This includes tracking medication adherence, glucose levels and other health behaviours through daily photos. 

So far, 91% of Wellth’s users engage with the Wellth app everyday. As a result, Wellth’s health plan and provider clients have seen significant cost savings and Medicare Advantage plans have achieved higher Star ratings. Outcomes include reductions in inpatients admission, reductions in ER utilisation, and improvements in medication adherence. 

“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.

The funding will enable the company to further invest in the behavioural science engine behind the app and to expand the team to support Wellth’s growth.