Madison health tech company Wellbe Inc. is raising capital to expand its business, according to a recent regulatory filing with the U.S. Securities and Exchange Commission.
Wellbe is raising just over $5 million, according to the filing, and has already secured $4.6 million through 32 investors.
Messages left for Wellbe officials were not returned.
Launched in 2009, Wellbe developed a cloud-based platform where patients can remotely monitor their episode of care. The system also automates administrative processes to reduce costs and increase efficiency for providers.
The current round is the company’s seventh since 2012, according to PitchBook, a Seattle company that tracks venture capital and private equity deals. It’s also the largest round of funding in the company’s history.
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