Wednesday, February 12, 2014

Welltok Raises $22.1M From IBM, Others

Denver-based Welltok, the developer of software that aims to help consumers improve their health using a series of quesitons and answers, said this morning that it has raised $22.1M in a Series C funding, including money from IBM's "Watson Fund". Welltok said that the funding was led by New Enterprise Associates, IBM, and Qualcomm Ventures, the venture capital arm of Qualcomm, as well as Emergence Capital Partners, InterWest Partners, Miramar Venture Partners and Okapi Venture Capital.. Welltok is using IBM's Watson artificial intelligence software to help understand human language and for machine learning. The investment is the first out of the $100M "Watson Fund" established by IBM to invest in companies using its cognitive computing technology. Welltok is led by Jeff Margolis.