# Wellcore Corporation

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

- Industry: Electronics
- Headquarters: San Jose, US
- Website: www.wellcore.com
- Total disclosed funding: $7.7M
- Latest round: Series A (Jul 12, 2010)
- Investors on record: 1

## About

Wellcore Corporation specializes in receivership services, offering solutions for managing non-performing financial obligations and distressed real estate assets.Wellcore Corporation, founded in 2007 in San Jose, US, provides receivership services to address financial difficulties and property issues. The firm was founded by Chocko Valliappa, who has a background in managing financial and real estate solutions. Wellcore has completed a total of 3 deals, with a Series A funding round of USD 2.20 mn raised in July 2010 from Menlo Ventures, which constitutes the total amount raised by the company.The Bay Area Receivership Group (BARG) offers comprehensive receivership services, focusing on non-performing financial obligations and deteriorating real property assets. Core offerings include Rents & Profits Receivership for income recovery from distressed properties, and Health & Safety Receivership to restore properties not meeting health standards. BARG operates under California Code of Civil Procedure § 564, managing property restoration projects including funding, compliance, and contractor oversight. Clients include lenders, government departments, and property owners, primarily in the San Francisco Bay Area, with services extending statewide to regions such as Sacramento and Southern California.BARG's revenue is generated through service agreements related to their receivership operations. They enter into direct service contracts with clients, including banks and municipal agencies, where fees are determined by the complexity of services rendered. These agreements specify tailored solutions for property restoration and financial oversight, ensuring compliance with legal requirements, though specific pricing details are not disclosed.Wellcore Corporation plans to utilize the USD 2 mn from its Series A funding to enhance its receivership services and expand its geographic reach. The company aims to develop new products tailored for emerging markets and is targeting expansion into regions beyond California by the end of 2011. Plans include further investment in technology and infrastructure to improve service delivery and project efficiency.

## Funding rounds

- Series A, Jul 12, 2010, $2.2M — Menlo Ventures
- Series A, Jun 29, 2009, $5.5M — Menlo Ventures

## Investors

- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Series A