Malaysia-based corporate healthcare benefits and wellness management platform HealthMetrics said it has secured $5 million as part of its Series A funding.
The round was led by ACA Investments, a Japanese investment group with over $1 billion assets under management, HealthMetrics said in a statement on Wednesday. “With this new injection of funds, HealthMetrics will be expanding its regional footprint across Southeast Asia and enhancing its solutions to provide best-in-class user experience in health benefits while improving cost efficiency in corporate healthcare investments,” it said.
HealthMetrics will be extending its successful track record in digitalising corporate healthcare and optimising cost governance towards insurance-based corporate healthcare by working with regional brokers and insurance providers.
It will be expanding its offerings with innovative healthcare business models such as telemedicine, digital wellness, and preventive programmes.
“We founded HealthMetrics to ensure that companies are able to manage their employee health and wellness benefits with ease, in a more streamlined and cost-effective way. Our aim was, and still is, to introduce innovative digital processes to companies for higher efficiency and productivity,” said HealthMetrics CEO Alvin Yuan. “Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach on corporate healthcare.”
Established in 2008, ACA Investments is a leading investment firm from Japan that is headquartered in Singapore. One of the key areas of investment which the company focuses on is healthcare. ACA Investments is also linked to the Daiwa Securities Group, one of the largest investment banks in Japan.
“We are impressed by how HealthMetrics makes the relationship among the corporates, employees, and healthcare service providers more efficient using its online platform. We also believe that HealthMetrics has a strong potential to widen the range of services as a B2B2C medical service platform and expand this footprint regionally. We will support the team to grow further using our network and other resources,” said ACA chief investment officer Tomohiro Fujita.
In 2018, HealthMetrics secured seed capital from Spiral Ventures, Cradle, and RHL Ventures to establish its services and operations in Malaysia. With the investment, HealthMetrics has onboarded more than 1,000 companies onto its platform, launched new feature upgrades which resulted in significantly reduced cost savings and increased efficiency, while introducing robust safety protocols, work-from-home procedures, and privacy-conscious contact tracing systems in the wake of COVID-19.
Established in 2015, HealthMetrics is a digital solutions provider that aims to assist human resources teams in automating, simplifying, and managing healthcare benefits within organisations. HealthMetrics connects companies to its partner healthcare providers while giving both parties access to accurate benchmarking and data analytics reporting. The company’s main aim is to help businesses achieve increased productivity, maintain cost-effectiveness, and drive continuous growth, while providing employees with the best curated healthcare packages.
Free to use, HealthMetrics currently serves companies of all sizes, including public-listed companies, multinational corporations, as well as small to medium enterprises. HealthMetrics’ portfolio of clients include PricewaterhouseCoopers (PwC), Family Mart, Star Media Group, Taylors Group, Mr. DIY, Pullman Hotels, KLK and others.