Toronto-based digital employee health benefits platform League announced today that it raised $62 million CAD in a funding round led by Telus Ventures.
League was founded in 2014 as a platform aimed at enabling businesses to better manage employee benefits. The company’s customers include Uber, Shopify and Unilever.
“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, in a July 24th, 2018 media release.
“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.”
The company launched in the U.S. in 2017, and plans to launch in the U.K. and the rest of the E.U. in 2019.
League’s most recent round of funding will enable the company to open new offices in San Francisco, New York City and London, England.
“We believe that innovative companies like League that deliver compelling consumer-centric experiences will not only drive high employee and employer engagement, but will also deliver fundamental improvements in health outcomes for Canadians through their carrier friendly open platform,” said Rich Osborn, managing partner at Telus Ventures, in the same July 24th media release.
“I’m pleased to support the League team as a new board member and add the company to our venture portfolio alongside others innovating in virtual care, mental health, personal health records, wellness, and population health management.”
League also secured funding from Wittington Ventures, OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures.