Telus helps found Kobo founder's health benefits raise $ 62 million in funding

We do not usually cover funding stories from ITBusiness.ca but the last round of the Health Benefits League is led by an unexpected funder: Telus Corp.

Telecoms Venture Capital Telus Ventures joins Wittington Group, OMERS Ventures and RBC Ventures, the subsidiary of RBC Royal Bank of Canada (RBC), to invest $ 62 million in the mission of the league to offer consumers an avant-garde alternative.

Current investors in the league also include Real Ventures, Infinite Potential Group and the Business Development Bank of Canada

"Employers are struggling for talent, soaring health costs, and The mental health epidemic quickly recognizes that a new approach to benefits will give them a competitive advantage, "said league founder and CEO Mike Serbinis in the release. "The health benefits are a great opportunity to improve the lives and health of employees, but they do not currently generate the business value that employers should expect from their investment." The league gives them greater control over their expenses while providing an unparalleled work experience that maximizes health and productivity. "

In the same release, Rich Osborn, Managing Partner of Telus Ventures, said: Consumer-driven experiences – not only will boost the high engagement of employees and employers, but will also bring fundamental improvements to Health outcomes for Canadians through their user-friendly open platform. "

" I am pleased to support a new board member and add the company to our portfolio. Innovative venture alongside others in virtual care, mental health, personal health records, wellness and population health management., Telus Ventures has invested in more than 70 companies since its Established in 2001, with a focus on health technology, the Internet of Things (IoT), artificial intelligence (AI) and security, his other investments include the smart pills designer. DoMedic ents and the developer of health information technologies Get Real Health.

Founded in November 2014, League offers businesses a suite of apps designed to lower their operating costs while providing a superior administrator and user experience. Available applications include a unified and customizable digital wallet; cat-based support; health rewards based on behavior; and a market with exclusive offers on health and wellness products and services.

The latest round of corporate funding will allow the Toronto League to open new offices in San Francisco, New York and London. The company was launched in the US market in 2017, and is now licensed to operate in all 50 US states and is expected to enter the United Kingdom and abroad.

Before launching League, founder and CEO, Serbinis was best known as the founder and CEO of the Kobo digital reading company.