Employee wellness curation platform Jiff raised $18 million in a round led by Venrock with participation from existing investors Aberdare Ventures and Aeris Capital. Jiff has raised $25.8 million to date.
Jiff originally launched with a provider-to-patient education platform, called JiffPad, the company pivoted in June 2013 and now offers a service called The Health Outcomes Marketplace. The marketplace is a customized app that Jiff builds for each of its employer customers.
The app enables employees to choose from among a curated marketplace of wellness programs. The service has been developed on the Jiff platform in partnership with Towers Watson, a global professional services company.
"The way the app works is that we help employers design their benefits around these new, emerging digital health tools," Jiff CEO Derek Newell told MobiHealthNews in a recent interview. "What I mean by 'design their benefits' is they give people incentives, or reduce premiums, or reduce copays, or some form of a change in the amount they would pay for their insurance. There are other rewards as well, but they design their benefits around the use of digital health tools. And those tools are subsidized through this Jiff app. So what happens is the employer says 'I will subsidize these different solutions that you have integrated with your platform'. The employer doesn’t need to worry about which person needs which solution."
The recent funding will be used to expand Jiff's sales and marketing team and grow its network of distribution partners, but also grow the number of digital health categories that the company curates in its marketplace. Currently Jiff's focus is on activity tracking, food tracking, sleep tracking, heart rate, grocery and food incentives, cost transparency, stress and resiliency, and biometrics.
Newell said the categories on the top of Jiff's list include pregnancy, diabetes, diabetes prevention, managing metabolic syndrome, and mental health issues -- beyond resiliency and stress, which the platform offers now.
Jiff has about 10 customers right now including Qualcomm and Activision Blizzard. All of Jiff's customers have more than 2,000 employees and one has 50,000 employees.
In December 2013, Jiff announced the first batch of partners for its new health outcomes marketplace. Jiff said it integrated with Fitbit, Jawbone, Fitbug, Withings, BodyMedia, Fatsecret, and CaloryGuard, and was in conversations with more than 60 additional digital health app and device companies. Since then, the company's website shows that they have added Misfit, bioIQ, iHealth, Amplify Health, and Moves.
The company said that the eventual goal of the Health Outcomes Marketplace is for Jiff to work with employers to create customized platforms for employees where employees can choose between digital health and fitness apps and devices, then purchase the app or device of their choice with money from their employer.