# Awell Health

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/awell-health-b-v

- Industry: Healthcare IT
- Headquarters: Gent, Belgium
- Website: www.awellhealth.com
- Total disclosed funding: $7.1M
- Latest round: Seed (Sep 18, 2023)
- Investors on record: 4

## About

Awell Health B.V., located in Gent, Belgium, specializes in enhancing healthcare operations through its innovative CareOps platform, which streamlines workflows for healthcare providers and improves patient care delivery.Founded in 2016, Awell Health B.V. focuses on transforming healthcare through its digital solutions. The company has not undergone significant pivots in its business strategy since inception. The founder, Thomas Casteele, leads the company, which has raised a total of USD 5.00 mn through 2 funding deals as of September 19, 2023. Their recent funding round was a Seed round led by Octopus Investments, which enabled the firm to secure its first significant investment.Awell specializes in transforming healthcare operations through its innovative CareOps platform, designed to streamline workflows and enhance patient care delivery. The platform integrates various functionalities that address the needs of care teams and patients, enabling organizations to eliminate inefficiencies associated with spreadsheets and operational silos. Awell's solutions cater to a wide range of healthcare providers across virtual-first, traditional, and value-based care settings, focusing on regions with established healthcare infrastructures, such as North America and Europe. Their technology fosters adaptive workflows that learn from user interactions, aiming to improve care systems and organizational efficiency, leading to better patient outcomes.In the most recent fiscal year of 2023, Awell reported a revenue of USD 824,356.2. However, the company also faced challenges, with an EBITDA amount of USD -1,695,274.8, reflecting the ongoing investment in its operational expansion and product development.In September 2023, Awell Health B.V. raised USD 5 mn in a Seed funding round aimed at bolstering its product research and development initiatives and expanding its workforce. The company plans to launch new features within its CareOps platform to better serve healthcare providers and intends to extend its market reach into additional geographical regions, primarily targeting North America and Europe by the end of 2024. The recent funding will directly support these growth initiatives, enhancing Awell's capacity to innovate and adapt to the evolving demands of the healthcare sector.

## Funding rounds

- Seed, Sep 18, 2023, $5M — Octopus Investments, s16VC
- Seed, Mar 10, 2020, $2.1M — LocalGlobe, Moonfire

## Investors

- LocalGlobe (https://capitalatlas.ai/funds/localglobe) — Seed
- Moonfire (https://capitalatlas.ai/funds/moonfire) — Seed
- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Seed
- s16VC (https://capitalatlas.ai/funds/s16vc) — Seed