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BBJ: Baltimore Health Tech Startup Raises $8.2 Million to Fuel Growth, Hiring
August 23, 2018
Baltimore health technology startup b.well Connected Health has raised millions of dollars in funding to support big growth plans.
According to four separate documents recently filed with the U.S. Securities and Exchange Commission, b.well has raised a total of $8.2 million in convertible debt funding from more than 60 investors.
Sheri Kitchin, b.well's vice president of business development, said the money will be used for hiring, as well as growing the company's health tracking platform.
Prior to raising its most recent round, b.well had about 25 full-time employees, including some contractors and offshore technologists. By the end of the year, the company hopes to have between 30 and 35 employees by the end of the year. Kitchin said b.well is looking to hire more technology and sales executives as it continues to scale.
The startup provides a platform that allows a family to store all of their health history and records, from multiple sources, in one place. It also connects to health-related tech devices, like a FitBit or sleep tracker, so a person can keep better track of their own health as well as family members. B.well launched in 2015 and has been operating fairly quietly since. It is led by CEO Kristen Valdes, who previously worked for health insurer UnitedHealthcare.
Click here to read the rest of the story via the Baltimore Business Journal.