Trio Of SoCal Investors Back Welltok

Three, local venture capital investors -- Miramar Venture Partners, Okapi Venture Capital, and Qualcomm Ventures -- are part of a group investing $22.1M in healthcare software developer Welltok, which announced a big funding round this morning. Miramar and Okapi are in Orange County, and Qualcomm is in San Diego. According to Welltok, it raised its new $22.1M Series C funding from New Enterprise Associates (NEA), IBM--via its new "Watson Fund"--and Qualcomm Ventures, along with existing investors Emergence Capital Partners, InterWest Partners, Miramar Venture Partners and Okapi Venture Capital. The investment is the first out of IBM's $100M "Watson Fund", which aims to invest in companies using its Watson artificial intelligence software. Miramar and Okapi are prior investors in Welltok, having backed the company last year in its Series B. Welltok's founder, Jeff Margolis, had previously founded Orange County's TriZetto, although that firm later moved to Colorado. More information »