HealthMetrics raises US$5M Series A to help corporates manage employees’ health, wellness better
HealthMetrics, a healthcare and wellness management startup in Malaysia, has raised US$5 million in a Series A funding round, according to a press statement.
This round was led by ACA Investments, a global financial institution based in Japan.
The fresh funds will be invested to expand the company’s regional footprint across Southeast Asia, as well as for product development.
“We want to enhance our solutions to provide best-in-class user experience in health benefits whilst improving cost efficiency in corporate healthcare investments,” said Alvin Yuan, CEO of HealthMetrics.
HealthMetrics is a cloud-based solution that helps corporates simplify and manage the tedious manual paperwork related to employee healthcare plans by automating the entire process.
Through its platform, employers can implement benefits for their employees such as dental or vision care within seconds.
A free to use platform, HealthMetrics currently serves companies of all sizes, including public-listed companies, MNCs and small and medium enterprises.
Currently, the platform has over 3,000 healthcare partners throughout Malaysia and its clients include PwC, Family Mart, Star Media Group, Taylors Group, Mr DIY, Pullman Hotels, and KLK.
Healthcare is also one of the few sectors that is witnessing a boom during the ongoing global health crisis. Companies across the region are looking to provide employees with healthcare protection so that they can return to the workplace on time.
In order to support companies during this time, HealthMetrics is extending its offering to both outpatient and inpatient care benefits.
“As we look to expand across the region, we aim to provide companies and their employees with more well-rounded digital solutions which meet their current needs that have evolved since we founded our company five years ago,” Yuan added.
In 2018, HealthMetrics raised seed capital from Spiral Ventures, Cradle and RHL Ventures.