Canadian employee health benefits startup League has raised a massive $47.5 million ($62 million Canadian dollars) in a Series B funding round to transform health benefits market. The latest funding was led by Telus Ventures with participation from Wittington Ventures, Omers, Infinite Potential Group, RBC Ventures, Real Ventures, and BDC Ventures. In addition, the company also announced UK and EU expansion in 2019. The new funding will also help the company to further its mission to bring a consumer-centric benefits alternative for forward-thinking businesses.
“Employers experiencing the war for talent, skyrocketing healthcare costs, and the mental health epidemic are rapidly recognizing that a new approach to benefits will give them a competitive advantage,” said Mike Serbinis, League’s founder and CEO. “Health benefits represent a tremendous opportunity to improve the lives and health outcomes for employees, but they’re not currently driving the business value employers should expect from their investment. League gives them greater control over their spend while delivering an unparalleled employee experience that maximizes both health and productivity.”
Founded in November 2014 with the mission of empowering people with their health every day, League has helped businesses bring the same kind of convenience and personalization to benefits that the Netflix Generation have come to expect in a modern consumer experience, while helping employers to manage total costs. This has proven to be a differentiator for innovative League customers such as Uber, Shopify and Unilever, who are focused on making healthcare benefits a competitive advantage.