# Picwell

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/picwell

- Industry: Healthcare IT
- Headquarters: Philadelphia, US
- Website: www.picwell.com
- Total disclosed funding: $11M
- Latest round: Series B (Feb 20, 2018)
- Investors on record: 6

## About

Picwell, Inc. is a technology company that provides intelligent solutions for employee benefits management, utilizing data-driven insights to enhance decision-making for organizations and their employees.Picwell, Inc. offers an innovative platform that simplifies employee benefits management. Founded in 2013, the company is headquartered in Philadelphia, US. The founder, Jonathan Kolstad, is known for his entrepreneurial ventures, while the current CEO is Jay Silverstein. Picwell has successfully raised a total of USD 4.00 mn across multiple funding rounds, with the most recent being a Series B round led by Aflac Corporate Ventures on January 9, 2023. The company has completed four deals to date.Picwell specializes in providing a hyper-personalized employee benefits management platform, primarily through its flagship product, ALEX. ALEX utilizes predictive analytics and behavioral science to simplify complexities in employee benefits, facilitating informed decision-making for organizations and their employees. The platform supports users throughout various stages of their careers and personal lives, addressing challenges like eligibility and enrollment, and is marketed primarily in the United States.Picwell generates revenue through subscription-based models for its platform, ALEX, which offers tiered pricing plans catering to different organizational needs. Clients engage in contracts for ongoing support and updates related to benefits management, establishing long-term partnerships that enhance client retention and ensure a steady revenue stream as clients renew subscriptions or expand their use of the platform.Picwell, Inc. aims to leverage its recent acquisition by The Jellyvision Lab, Inc. to enhance its employee benefits software offerings. The acquisition occurred in January 2023 and is expected to support the development of new products and features in the coming years. The company plans to expand its reach into additional markets, focusing on improving the employee benefits landscape for organizations across the U.S. The recent funding will be utilized to support these initiatives, providing resources for product development and market expansion.

## Funding rounds

- Series B, Feb 20, 2018, $4M — OUP (Osage University Partners), BlueCross BlueShield Venture Partners, Sandbox Industries, MassMutual Ventures, Aflac Corporate Ventures, Springfield Armory, Inc.
- Series A, Dec 28, 2015, $3M — BlueCross BlueShield Venture Partners, Sandbox Industries
- Series A, Jul 1, 2015, $4M — OUP (Osage University Partners), MassMutual Ventures

## Investors

- OUP (Osage University Partners) (https://capitalatlas.ai/funds/oup-osage-university-partners) — Series A, Series B
- MassMutual Ventures (https://capitalatlas.ai/funds/massmutual-ventures) — Series A, Series B
- BlueCross BlueShield Venture Partners (https://capitalatlas.ai/funds/bluecross-blueshield-venture-partners) — Series A, Series B
- Sandbox Industries (https://capitalatlas.ai/funds/sandbox-industries) — Series A, Series B
- Aflac Corporate Ventures (https://capitalatlas.ai/funds/aflac-corporate-ventures) — Series B
- Springfield Armory, Inc. — Series B