Well Dot Inc., a healthcare AI startup, announced Monday it raised $40 million in Series A financing from existing investors General Catalyst, John Doerr, and Mosaic Health Solutions, among others.
See the pitch deck that Loveman and his team used to win over investors for his company's $40 million Series A.Gary Loveman has an unusual background for a startup cofounder. On Monday, Well announced it raised $40 million in Series A financing from a group of investors that included General Catalyst, Kleiner Perkins chairman John Doerr, Mosaic Health Solutions, and partners of Hellman & Friedman. The round was a combination of debt and equity financing and came with an undisclosed valuation. The financing follows a $25 million seed round in 2019.
The idea is to "build a cycle of success," Loveman said. Giving people small, frequent rewards is similar to how casinos keep people coming back, Loveman said.
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