Castlight Health, which went public earlier this year, inked deals with 26 more employers during the second quarter, including new deals with six Fortune 500 companies like Google, Sprint, The Kellogg Company, and Texas Instruments. The company's new customer wins also included a large state university system and a handful of local government entities. Interestingly, the company has also found that its platform can increase usage of telehealth services among employees when they are integrated with Castlight.
At the end of Q1 the company disclosed similar deals with both Comcast and the state Kansas, which it said were both deals worth more than $1 million. During this quarter's call the Castlight's management team did not comment on the size of any of its deals. Castlight now counts 130 employers as its customers, which includes 35 Fortune 500 businesses -- a focus customer group for the company this year.
Castlight Health offers employees a personalized platform, online and on iOS or Android, to compare prices of healthcare services and keep track of healthcare spending so that employers can reduce that spending over time. The company also integrates prescription drug information into the platform so that they can also track medication cost and has recently added a dentist pricing offering.
During the quarter Castlight also launched its services for 13 of its already signed customers and upsold 12 customers on its relatively new Castlight Pharmacy and Rewards feature. It had 29 customer implementations completed in Q1.
During the quarter Castlight announced that it had partnered with telehealth service provider Teladoc. The deal made it easier for employees whose employers are customers of both companies by integrating Teladoc's virtual visits services into Castlight's platform. On the second quarter conference call, Castlight said it has found its users are twice as likely to use telehealth services than non-Castlight users.
The Teladoc deal was part of the Castlight Connect program, which currently includes more than 30 integrations with telehealth companies, on-site clinic providers, expert opinion services, and wellness offerings. The company said it is adding more partners.
While it didn't release detailed data, Castlight's management team also said that a recent internal analysis showed that 87 percent of its customers, who had been live on Castlight for at least nine months, had achieved "statistically significant behavior change" and cost savings on services that include lab tests, advanced imaging, and/or office visits.
During the quarter Castlight posted total revenue of $10.5 million and an operating loss of $21.8 million.
Finally, the company announced that its COO Randy Womack has resigned and will depart the company in September after four years. Womack is expected to join or found another startup -- Castlight's was his third IPO.
