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Tictrac secures $7.5M to expand employee wellbeing platform as WFH balloons

Tictrac secures $7.5M to expand employee wellbeing platform as WFH balloons

“Employee Wellbeing” SaaS platforms have been round for a while. Both regulation and rising stress ranges and well being issues within the office have fed the rise of this sector of tech, and with many corporates portray long-term contracts with suppliers, it’s a profitable enterprise. Furthermore, with the COVID-19 pandemic ongoing, giant remote-workforces look right here to remain for the foreseeable future and are more likely to want these platforms greater than ever. Notable gamers within the house embrace Rally Health, Dacadoo and Virgin Pulse.

Tictrac is a startup on this house that makes use of a mixture of customized content material, way of life campaigns and incentivized challenges to encourage workers. It combines this with behavioral science to determine set off factors to egg-on workers to optimistic behaviors. Existing traders of Tictrac embrace world-class tennis champion, Andy Murray and American basketball participant, Carmelo Anthony who has been named an NBA All-Star 10 instances.

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Today it secures a £6m ($7.5M) in a funding spherical led by London-based Puma Private Equity, bringing its complete funding so far to £13.5m ($17M). The newest spherical will enable the corporate to broaden its Employee Wellbeing platform for its thousand-plus clients. It will even now broaden its Enterprise platform, which allows insurance coverage firms and well being suppliers to have interaction their clients of their well being and tailor related services to them.

Tictrac depends closely on content material, contributed by well-known well being and health influencers, overlaying health, yoga, meditation, mindfulness, recipes and weblog posts which offer its customers with inspiration and recommendation on find out how to enhance their way of life.

Unlike a whole lot of different “Employee Welbeing” platforms, customers can observe the content material or specialists that they’ll relate to (very similar to with Instagram, Calm or Glo Yoga) powered by a marketing campaign engine that delivers artistic themes throughout Tictrac options, like wholesome habit-forming motion plans and exercise challenges.

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Founded in 2010, the corporate has partnered with healthcare and insurance coverage suppliers together with Aviva, Allianz and Prudential.

In an announcement Martin Blinder, CEO and founding father of Tictrac, commented: “Now greater than ever, firms have a higher position and accountability in supporting the well being of their workforce. And whereas companies are targeted on sustaining retention and productiveness – significantly with so many individuals working remotely – they’re now tasked with making an attempt to navigate well being points equivalent to burn-out and putting a wholesome work-life stability.”

Rupert West, Managing Director at Puma Private Equity stated: “We have been persistently impressed with Tictrac’s skill to intensify well being and wellbeing engagement, which in flip will assist alleviate a few of the pressures our well being providers proceed to face.”

EditorialTeam

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