The launch of Welltech Funding, a health and wellness-focused strategic seed round investor designed to support, develop and bring new technology companies and start-ups to market, is dedicated to changing how companies pursue wellness and healthy living.
Welltech was formed by Pete Ellis, SpaFinder, Inc. chairman and CEO, who also brought GramercyOne and SpaRahRah!™ to the global market, and transformed SpaFinder to be the leading spa and wellness digital platform. According to Ellis, Welltech’s mission is to grow “the best and brightest health and wellness technology companies.”
“The phenomenal success of SpaFinder and GramercyOne showed us that technology holds enormous potential for helping people lead healthier lives,” Ellis says. “New York City is home to some of the most creative innovators in both the technology and wellness sectors, and we look forward to working with them to take wellness-related technology and services to an exciting new level.”
To nurture and shepherd these companies to the market, Welltech will invest a minimum of $50,000 (EUR38,000, £31,000), plus office space (including phones and utilities) and marketing support in select companies. These selected companies must be using technology to create new, consumer-facing health and wellness solutions, from innovative online platforms, services and apps to consumer tools and products.
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In addition to the above assets, in working with Welltech, companies have the potential to take advantage of SpaFinder, the world’s largest spa and wellness marketing company. SpaFinder will provide marketing support in the form of positioning on SpaFinder.com and, when applicable, both B2B and B2C database marketing.
Through identifying companies that are developing the most promising health and wellness technologies, platforms and tools, and providing them with a strong, collaborative, entrepreneurial support network, seed capital and receptive consumer audiences, Welltech’s focus is to foster rapid growth.
Launched in March 2012, Welltech Funding dips into the $2 trillion global wellness market, which Ellis believes is poised for further explosive growth, as hundreds of millions of consumers now aggressively seek new, smarter, health and wellness solutions and alternatives to combat the high cost and limited scope of “traditional healthcare.” Participants as of now include FITiST and WizPert, a duo of startups dedicated the pursuit of healthy living.
Welltech is financed by Jubilee Investments, an investment firm led by Ellis that recently saw success as the early stage investor in GramercyOne. Last fall, GramercyOne announced US$14.5 million in Series A funding, led by Steve Case’s Revolution Ventures, GroTech, TD Capital and Jubilee.
For more information, go to WelltechFunding.com, and if you believe you and your company might be a good fit for the Welltech strategic seed round investment program, please contact Andrea Persily at 212-716-1203, or Andrea@welltechfunding.com