WINSTON-SALEM – A Winston-Salem startup, committed to helping employees save on their health plans, has raised $667,500 in equity.
Wellnecity, founded by John Quinn in 2018, collected the funds from 11 investors, according to a recent SEC filing.
The round is still open and capped at $800,000 — with around $132,500 remaining to be sold.
Quinn was unavailable for comment when contacted by WRAL TechWire.
However, the filing disclosed that funds ”would go towards “none other than payments in the ordinary course of business.”
Wellnecity’s mission: to lower the cost of healthcare benefits for employers and their employees by “colidating and analyzing data” and “leveraging advanced analytics, insights, and real-time cost monitoring.”
According to its LinkedIn account, Wellnecity is leveraging the following technologies:
- Blockchain to gain access to claims data and health records, decreasing friction between providers, payors, and patients.
- Machine learning to deliver clean data at scale.
- Micro-services to manage information access without the burden of competing portals/user interfaces.
Back in 2018, the firm raised around $303,870 in equity according to its filing history.
Attorney Tucker A. Idol signed off on both filings.
