Puma Private Equity leads $7.5m investment into health engagement company, Tictrac
Puma Private Equity, the private equity division of Puma Investments, has led a $7.5m investment into Tictrac, a leading provider of digital platforms designed for corporates and insurance companies to increase health and wellbeing engagement amongst their employees and customers.
This investment 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, with the Employee Wellbeing platform helping businesses empower their staff in taking greater control of their health and wellbeing. 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.
After years of research, the Tictrac platform has been cleverly designed to seamlessly fit into an individual’s daily lifestyle. It uses behavioural science to identify trigger points where extra motivation may be required and provides content contributed by well-known health and fitness influencers to keep users inspired.
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.
Puma Private Equity’s investment brings Tictrac’s total investment to $17 million, with existing investors including world-class tennis professional Andy Murray and American All-Star basketball player, Carmelo Anthony.
Martin Blinder, CEO and founder of Tictrac, commented:
“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, commented:
“We have been consistently impressed with Tictrac since our first meeting. Tictrac’s ability to heighten engagement is delivering real value to their customers whilst simultaneously driving focus amongst individuals on their own wellbeing. We’re all aware of the importance of this and its role in keeping our population healthy and easing pressure on our health services. Through this investment, we are pleased to support Tictrac’s pivotal work as we partner with them to assist their growth.”
About Puma Private Equity
Puma Private Equity is a leading provider of growth capital to small and medium-sized businesses across all sectors and regions of the UK. It delivers investments between £2-10 million and partners with management teams to accelerate growth and help businesses achieve their potential. To find out more visit www.pumaprivateequity.co.uk.