Via Jacksonville Business Journal
Jim Stallings is always looking for “the next big idea,” and the CEO and founder of PS27 Ventures hit the mark as lead investor for a $1.6M Seed Round in SoHookd — one of the fastest-growing digital wellness marketplaces in the U.S.
The Jacksonville-based venture capital firm made the announcement on Dec. 13, making an investment in its Rhea Fund, which is a $20-million fund interested in health tech, e-commerce, fintech and SaaS and sustainability startups.
Additionally, the Rhea Fund maintains interest in entrepreneurial founders who are women, veterans and people of color.
SoHookd is a Black women-owned business and PS27s eighth Rhea Fund investment.
Founded by CEO B.J. Wiley Williams, the Washington-based company curates and partners with leading consumer wellness brands and delivers their offerings through a suite of wellness products.
Stallings said he was drawn to Williams’ leadership and industry expertise as well as her being an upstanding role model. Further, SoHookd has tens of thousand clients on its platform with highly functionable software.
The nation’s largest insurance carriers are among the company’s existing partners, including Aetna, Cigna, United Health Care, Planned Parenthood and more.
“We think SoHookd has the potential to be a large enterprise, or we wouldn’t have led the round and invested more than 50%,” Stallings said. “The health tech space is a movement, and it’s not just food and exercise but what’s good for the mind.”
“SoHookd is not a small local business but rather a potentially multinational platform, and you’ll be reading about it for a long time.”