Puma Private Equity has led a USD7.5 million investment into Tictrac, a digital platform company designed to promote health and wellbeing among corporates and insurance companies.
The firm’s investment brings Tictrac’s total investment to USD17 million. Existing investors include tennis professional Andy Murray and US basketball player Carmelo Anthony.
The company will use the fresh capital to expand its Employee Wellbeing (SaaS) platform, in order to deal with increasing stress levels and health problems in the workplace.
“Now more than ever, companies have a greater role and responsibility in supporting the health of their workforce,” said Martin Blinder, CEO and founder of Tictrac.
He added: “And while businesses are focused on sustaining retention and productivity – particularly with so many people working remotely – they are now tasked with trying to navigate health issues such as burn-out and striking a healthy work-life balance.”
TicTrac will also use the funding to scale its Enterprise platform. Founded in 2010, the company has partnered with Aviva, Allianz and Prudential.
“We have been consistently impressed with Tictrac since our first meeting. Tictrac’s ability to heighten engagement is delivering real value to their customers while simultaneously driving focus among individuals on their own wellbeing,” said Rupert West, managing director at Puma Private Equity.
“We’re all aware of the importance of this and its role in keeping our population healthy and easing pressure on our health services,” added West.