First Investment by IBM's Watson Fund Is for Welltok

IBM has invested in Welltok, a Denver-based company working on health applications, as part of its $100 million venture capital fund to boost third-party use of its Watson cognitive computing platform.

The investment was part of a $22 million Series C investment that Welltok announced today. The round was led by New Enterprise Associates; Qualcomm Ventures also participated. Welltok has raised about $48 million in total.

IBM announced plans to make investments in companies working with Watson last month. It was part of a wider effort to double down on the Watson platform. The computer system was made famous in 2011 by a series of episodes of the TV game show “Jeopardy,” where it defeated two of the game’s human champions.

Welltok specializes in applications that help consumers manage their health, and allows health insurance providers to offer incentives like lowered premiums. Welltok said last year it would use the Watson technology to build a product called CaféWell Concierge, which is intended to help consumers manage certain health conditions and get rewards for making positive changes.

Steve Gold, the VP of IBM’s new Watson business unit, says the company is looking to make more investments in companies using the technology in the health, retail and travel sectors.

This article originally appeared on Recode.net.

Contributions are a key part of the future of Vox

Readers rely on Vox for clear, nuanced coverage that not only illuminates the issues, but poses solutions, too. And we rely on help from our readers: Advertising and grants cover the majority of our costs, but we count on contributions to help us close the gaps in our budget. In fact, we’re looking to reach 95,000 individual contributions before the end of the year. Will you make the next contribution right now? Our average gift is just $20 — and it goes a long way in helping us keep our work free. Vox is here to help everyone understand what’s shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. Join that mission by making a contribution today.

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via