Limeade raises $25M for employee wellness platform

By Aditi Pai
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LimeadeBellevue, Washington-based employee engagement platform Limeade raised $25 million in a round led by Oak HC/FT Partners. This brings the company's total funding to $34 million.

Limeade will use the funds to expand its platform and launch new products in the employee wellness space. In the past two years, Limeade's staff size has grown 300 percent to keep up with its revenue growth, the company said.

Limeade offers employees well-being assessments, goal setting and tracking, coaching programs, and incentive-based rewards. Employees can integrate data from their digital health apps and devices, including Fitbit and Fitlinx trackers, to the platform too.

When they complete goals, like getting a flu shot, going in for an annual checkup, taking a healthy cooking class, or going for a swim, they earn points that can be redeemed for rewards.

Over the years Limeade has partnered with Valence Health, Axion Health, Healthcare Blue Book, Fitbit, and Total Wellbeing for the platform.

The company's customers include Washington State Healthcare Authority, Kindred Healthcare, The Ohio State University, Jamba Juice, Box, Stanford Hospital, and Nokia.

Oak HC/FT's investment was the first of the venture capital firm's new healthcare and financial technology fund. The company has previously invested in price transparency tool Castlight and EHR company athenahealth.