Founded in 2015, Malaysia-based corporate healthcare benefits and wellness management platform HealthMetrics last week announced it has raised a total of $5 million (approximately RM 20 million) as part of its Series A funding. The round was led by ACA Investments, an investment firm from Japan and headquartered in Singapore.
With this new injection of funds, HealthMetrics will be expanding its regional footprint across Southeast Asia. The startup will also be expanding its offerings with innovative healthcare business models such as telemedicine, digital wellness & preventive programs.
WHAT IT DOES
HealthMetrics connects companies to its partner healthcare providers while giving both parties access to accurate benchmarking and data analytics reporting. 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.
Other players in the corporate healthcare benefits and wellness management platform space in the APAC region include Singapore-based MyDoc and CXA Group. The latter recently raised fresh funding from Thai human resource company Humanica and HSBC, a commercial banking company in May this year, MobiHealthNews reported.
ON THE RECORD
“We would like to express our gratitude towards ACA Investments for their confidence in us as we continue striving to make a difference in employee health and wellness at home and across the region. 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. Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach on corporate healthcare,” said Mr. Alvin Yuan, Chief Executive Officer of HealthMetrics.