Tictrac closes £6m funding round, to boost workplace wellbeing
Health engagement firm Tictrac has secured £6m in its latest funding round, bringing its total investment raised to £13.5m.
The money raised will help the company to expand its Employee Wellbeing (SaaS) platform, which has been developed to help tackle increasing stress levels and health problems in the workplace.
The company has also made The Employee Wellbeing platform available to all UK employers for free during the Coronavirus pandemic.
Led by London-based Puma Private Equity, the latest round will allow the company to expand its Employee Wellbeing (SaaS) platform, in a bid to tackle increasing stress levels and health problems in the workplace. Tictrac already works with over a thousand employers globally.
Additionally, it will further scale its already successful Enterprise platform, which enables insurance companies and health providers to engage their customers in their health and to tailor relevant products and services to them.
At a time when employee engagement has never been more important, with nearly 80% of workers in the UK experiencing some level of stress, Tictrac’s new Employee Wellbeing platform will support businesses to empower their staff in taking greater control of their health and wellbeing. Tictrac’s unique combination of rich and personalised content and dynamic, themed lifestyle campaigns, programmes, and incentivised challenges delivers meaningful behaviour change to the people who need it most.
After years of research, the Tictrac platform has been designed to fit into an individual’s daily lifestyle. It uses behavioural science to identify trigger points where extra motivation may be required and provides fresh and engaging content to keep users inspired each day. This content, contributed by well-known health and fitness influencers, includes fitness, yoga and other training videos, meditation and mindfulness, easy recipes and blog posts which provide users with constant inspiration and advice on how to improve their lifestyle.
Founded in 2010, the company has partnered with some of the world’s biggest healthcare and insurance providers, including Aviva, Allianz and Prudential, and now, through its new employer-focused platform, aims to create the world’s most engaged wellbeing community.
Martin Blinder, CEO and founder of Tictrac, comments: “Now more than ever, companies have a greater role and responsibility in supporting the health of their workforce. And while businesses are focused on sustaining retention and productivity – particularly with so many people working remotely – they are now tasked with trying to navigate health issues such as burn-out and striking a healthy work-life balance. This drove our motivation to launch our Employee Wellbeing platform, it’s playing such a critical role in supporting businesses in unifying their teams to create a happy, healthy and engaged workforce.
“The funding has allowed us to bring this product to market and move to the next phase of our business. The aim at Tictrac is to inspire people to become more accountable for their own health and change the way people look after themselves, for good. We’re confident our Employee Wellbeing platform will help achieve that.”
Rupert West, Managing Director at Puma Private Equity comments: “As a nation, we all need to take responsibility for our own health, and thanks to companies like Tictrac this is becoming easier to do on a day-to-day basis. We have been consistently impressed with Tictrac’s ability to heighten health and wellbeing engagement, which in turn will help alleviate some of the pressures our health services continue to face. Through this investment, we are pleased to support Tictrac’s pivotal work in helping the UK achieve these goals and we look forward to aiding the company’s continued growth over the coming years.”
Existing investors of Tictrac include tennis champion, Andy Murray and American basketball player, Carmelo Anthony who has been named an NBA All-Star 10 times.
Puma Private Equity is a leading provider of growth capital to small and medium-sized businesses across all sectors and regions of the UK, partnering with management teams to accelerate their growth.