July 24, 2018
League Inc. raises C$62M to transform health benefits market
Strategic healthcare syndicate led by TELUS Ventures, along with Wittington Ventures, OMERS Ventures and RBC
TORONTO, July 24, 2018 /CNW/ — League Inc., a leading digital employee health benefits platform, today announced that it has raised C$62 million to further its mission to bring a consumer-centric benefits alternative for forward-thinking businesses. The funding round included lead investor, TELUS Ventures, as well as Wittington Ventures, and existing investors — OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures.
“Employers experiencing the war for talent, skyrocketing healthcare costs, and the mental health epidemic are rapidly recognizing that a new approach to benefits will give them a competitive advantage,” said Mike Serbinis, League’s founder and CEO. “Health benefits represent a tremendous opportunity to improve the lives and health outcomes for employees, but they’re not currently driving the business value employers should expect from their investment. League gives them greater control over their spend while delivering an unparalleled employee experience that maximizes both health and productivity.”
This funding round will also harness the thinking of Canada’s largest health IT and payment network, the largest retailer and pharmacy network and the largest bank to help advance the health benefits market. Inspired by the Amazon, Berkshire Hathaway and JP Morgan health partnership, League will now have access to the scale, capital and strategic assets to bring its platform to employers globally.
Founded in November 2014 with the mission of empowering people with their health every day, League has helped businesses bring the same kind of convenience and personalization to benefits that the Netflix Generation have come to expect in a modern consumer experience, while helping employers to manage total costs. This has proven to be a differentiator for innovative League customers such as Uber, Shopify and Unilever, who are focused on making healthcare benefits a competitive advantage.
“We believe that innovative companies like League — which deliver compelling, consumer-centric experiences — will not only drive high employee and employer engagement, but will also deliver fundamental improvements in health outcomes for Canadians through their carrier-friendly open platform,” said Rich Osborn, managing partner, TELUS Ventures. “I’m pleased to support the League team as a new board member and add the company to our venture portfolio alongside others innovating in virtual care, mental health, personal health records, wellness, and population health management.”
This latest round of funding will fuel continued growth for League, including the opening of new offices in San Francisco, New York and London. The company launched in the U.S. market in 2017, and is now licensed to operate in all 50 states. In 2019, the company will begin operations in the UK and EU. League will continue to invest in its member experience, driving continued convenience, personalization, navigation and better health outcomes for members. League will build out its benefits cloud, enabling greater choice of benefits providers and microbenefits, while driving automation and cost savings for employers.
“Our focus on building a consumer-centric benefits platform is resonating with companies across the country that want to see their employee health plans actually make a positive change for their teams,” said Brian Ancell, U.S. president for League. “Based on a Net Promoter Score of 75 (versus an industry standard of 8) and monthly engagement that rivals most social networks, League has the potential to bend the cost curve in healthcare.”
The League platform has a constantly growing suite of apps designed to reduce the total operating costs for companies delivering benefits programs, while driving an experience that makes life easier for administrators and increasing engagement with employees that improve health outcomes. These include offerings such as a unified digital wallet that employers can customize for their specific needs; chat-based, always-on health navigation; behaviour-based health rewards; and a marketplace where members can access exclusive deals on health and wellness products and services.
League is the leading digital benefits platform for the modern workforce, turning benefits into a competitive advantage for employers, while managing costs and empowering employees to take control of their health. League’s cloud-based infrastructure connects forward-thinking businesses and their employees with health insurance, flexible spending accounts, health content, curated health journeys and on-demand, live health support. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier lives.
About TELUS Ventures
As the strategic investment arm of TELUS Corporation (TSX: T, NYSE: TU), TELUS Ventures was founded in 2001 and is one of Canada’s most active corporate venture capital funds. TELUS Ventures has invested in over 70 companies since inception with a focus on innovative technologies such as Health Tech, IoT, AI and Security. TELUS Ventures is an active investment partner and supports its portfolio companies through mentoring; exposure to TELUS’ extensive network of business and co-investment partners; access to TELUS’ technologies and broadband networks; and by actively driving new solutions across the TELUS ecosystem. For more information please visit: ventures.telus.com.
Bateman Group on behalf of League
SOURCE League Inc.
May 10, 2018
League announces record year-to-date results as it redefines employee benefits sector
Industry leading member engagement with NPS score 9x industry average
TORONTO, May 10, 2018 /CNW/ — League announces rapid growth across key metrics year-to-date as it continues to revolutionize the employee health benefits sector in North America.
League onboarded a steady stream of new customers in Q1 2018, representing a 10x increase of new bookings from the same period in 2017. New customer additions in 2018 included top names like Unilever, Shopify, Mogo, Intelex Technologies and L’Occitane en Provence driving quarter-on-quarter revenue growth of more than 8X.
A disruptor in the market, League is re-imagining health benefits for innovative companies focused on hiring and retaining top talent and building a wellness-driven culture. It does this through its end-to-end digital platform, which delivers a seamless employee benefits experience, including access to its partner marketplace, concierge service and flexible spending accounts. This maximizes employee engagement in health and wellbeing, while streamlining costs and administration.
“Employers across North America want to improve the benefits experience for their employees, with mid-market companies particularly underserved by the existing players,” said Michael Serbinis, co-founder and CEO, League. “League is leading this change by providing employees and employers with a digital platform to maximize the value of their health benefits. We are delighted to be working with new customers and partners to help employees live healthier lives.”
“Employee health and wellness is a top priority for us,” said Mark Jaine, CEO, Intelex. “We have a number of benefit and perks offerings that League has been able to streamline and help us make more accessible for our employees. We are early in the relationship, but we’re loving it so far.”
“We’re excited to partner with League – a company as innovative in the benefits space as we are in the financial world,” said David Feller, CEO, Mogo. “We want our employees to have a world class customer experience and League can provide our team with an exceptional platform, increased flexibility and an innovative wellness program.”
In addition to expanding its client base, League has expanded its range of partnerships in both insurance and wellness, advancing its goal of becoming an indispensable platform for all elements of benefits.
New tier-one insurance partners include Manulife, AETNA, Humana, Cigna, United Healthcare, MetLife and Great West Life to offer even greater customization, choice and flexibility for employers. New partnerships available on the League marketplace include ClassPass, Under Armour, Weight Watchers, Crunch Fitness, Pure Barre and Muse.
“The growth of our partnership ecosystem shows our commitment to the wellness of our customers in all aspects of their lives,” said Serbinis. “By making it simple and frictionless to reach health services, whether it’s insurance for a loved one or a discount on a fitness app, we’re promoting a culture of workplace wellness. Member adoption of these services indicates there is a tremendous demand for this type of easy-to-use access.”
The growth of League marketplace is mirrored by member adoption, usage and high satisfaction. Seventy-seven percent of members engage with the platform each month, with nearly half accessing League weekly and the product has a net promoter score (NPS) of 74 — that’s more than nine times the industry average of eight. Employees who actively engage with their benefits tend to have better health outcomes and retention rates overall. Client growth suggests businesses are increasingly aware of this reality, taking employee health and wellness seriously as part of their core business strategy.
League is the new digital alternative to traditional health benefits that connects employers and employees to a comprehensive network of health services and benefits, giving them unparalleled choice, convenience and value. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier lives. League Insurance Agency Inc. is a licensed subsidiary of League Inc.
Follow League on Twitter @JoinLeague or visit www.league.com.
For More Information:
Bateman Group on behalf of League
October 10, 2017
League Expands with New Partnerships
InsurTech pioneer continues to redefine employee health benefits industry with unparalleled member experience and suite of enhanced products and services
TORONTO Oct. 10, 2017 /CNW/ – League today announced the addition of a variety of new insurance partners along with a host of health products and services to its member marketplace, further solidifying the company as the choice for employers looking to bring the best in health benefits to their teams.
League expands its Line-up of Leading Insurance Carriers
The company has partnered with a roster of Tier-1 insurance carriers across Canada and the U.S that includes RBCI, AETNA, Humana, Cigna, United Healthcare and MetLife. The strategic move expands League’s insurance offering and provides consumers with greater choice and flexibility, which now include fully insured plans in addition to defined contribution plans.
“League is a modern-day broker and TPA with a next generation experience, offering employers the flexibility that they need to evolve with the changing requirements of their teams,” said Michael Serbinis, founder & CEO. “By bringing on additional partners we are able to help employers of all sizes with multiple plan designs, consultative services and an expanded product offering that allows them to build the plan that’s right for them and their employees. Whether it’s a simple plan with drug and dental coverage, or complex administrative services only (ASO) partnerships, these alliances with leaders in the insurance space makes League the ultimate one-stop-shop for employers looking to give their teams the best in health benefits.”
The League Platform provides a best-in-class experience for employers and their teams by simplifying what has traditionally been a complicated and often overwhelming process. The end-to-end digital platform removes the friction and frustration from virtually every element of a health benefits plan, from administration and on boarding to member engagement and virtual care.
The move solidifies League’s growing force in the sector and highlights the company’s ability to successfully create a consumer-centric health benefits model. League is now the unrivaled leader in customer engagement and loyalty, with a net promoter score nearly 10 times the industry average.
League’s Marketplace welcomes new National Partners
League’s Health Marketplace, the first e-commerce health platform in the world that is a part of a health benefits solution, has expanded to include leading partners like Headspace, Adidas, Weight Watchers, GoodLife and Well.ca. The League Marketplace continues to be a driver of employee engagement and a place where members can search, book and rate healthcare providers and services; receive special offers and discounts on health-related items and pay for it all with a digital wallet that is connected to their health benefit plans.
Health Concierge Comes Out of Pilot
Announced in July, League’s Health Concierge engages members through an instant chat experience, allowing them to access advice from health professionals at their fingertips. League members have embraced this innovative offering, with active users more than doubling month over month with a satisfaction rating of 4.9 out of 5. League will be expanding Health Concierge in 2018, introducing broader specialties and US coverage. Health Concierge is a built-in part of the League platform available to all users with their membership.
League is the new digital alternative to traditional health insurance that connects employers and employees to a comprehensive network of health services and benefits, giving them unparalleled choice, convenience and value. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier, happier lives. League Insurance Agency Inc. is a licensed subsidiary of League Inc.
Follow League on Twitter @JoinLeague or visit www.league.com.
July 11, 2017
League launches Health Concierge, partners with Dialogue
League expands integrated mobile platform, providing full spectrum of services for members to take control of their health, at their fingertips.
TORONTO, July 11, 2017 – Today, League announced the introduction of Health Concierge, a virtual care solution that provides members with a simple and convenient way to manage their health, all uniquely integrated with League’s group benefits solution.
The service provides League members with access to registered nurses via chat, instantly directing them to the right health resource for their particular needs, all through their mobile device. All members have free access to Health Concierge, now in beta through the League app, to connect with registered nurses, doctors and specialists for consultations, diagnosis, and treatment plans. The offering enhances the company’s expansive marketplace of health professionals.
“Disruption in the group benefits space is all about experience,” said Michael Serbinis, co-founder and CEO of League. “League’s subscription now brings you an integrated Health Concierge, a trusted resource at the touch of a button.”
The company has teamed up with Dialogue, a Canadian virtual care platform, as its first resource partner in Ontario and British Columbia.
“Part of the complexity of this sector is the fragmented view consumers have between their benefits and the wider range of healthcare services,” says Lori Casselman, Chief Health Officer at League. “Our shared vision for a more integrated model made Dialogue the right first partner to help deliver access to quality care for our members.”
“We are excited to provide more Canadians better healthcare with instant access to an extensive care team, video consultations, full care navigation, prescription handling and their personal health record” said Cherif Habib, co-founder and CEO of Dialogue. “This is a big step towards combining dedicated providers with leading-edge technology for consumers.”
The program brings together two leaders in the digital health landscape allowing more Canadians to experience the benefits of on-demand care.
For more information on the pilot, please visit league.com or dialogue.co.
Follow League on Twitter @JoinLeague or visit www.league.com.
Dialogue is a virtual platform offering integrated healthcare services for employers to keep their employees happy, healthy, and performing at their highest potential. A full range of health professionals (nurses, physicians and allied health practitioners) is available at the click of a button to help employees optimize their work-life balance.
Follow Dialogue on Twitter @godialogue or visit www.dialogue.co.
For further information:
June 20, 2017
League expands across U.S. with new approach to health benefits
Tech startup begins rollout and announces former Blue Cross Blue Shield executive Brian Ancell to head U.S. business.
June 20, 2017 (CHICAGO and TORONTO) – Today, League Inc. kicks-off the expansion of its innovative health benefit offering across the country, shaking up the industry with a consumer-first digital experience that meets the unique needs of small and medium sized businesses.
League will be a new force in the disruptive insurtech space, with plans to be in the Top 10 U.S. metro areas by summer 2018. Based in Chicago, League is now live in Illinois and Washington states.
The company has appointed industry leader and healthcare innovator, Brian Ancell, as its U.S. president to lead its national growth efforts. Ancell has spent his career in health care, most recently as the President of Welltok and Executive Vice President of Premera Blue Cross.
Founded with a vision to change a complex, overwhelming health benefits system, League is dedicated to simplifying and modernizing the benefits experience for SMBs and their employees.
“It’s time to give consumers the right access, information and financial incentives to make educated choices about their personal health within our healthcare system, despite what changes may take place,” said Ancell. “If we give employers and consumers the right tools, they will shape the future of healthcare in our country.”
League is redefining the traditional benefits experience with its consumer-first digital platform that enables users to build the health plan that’s right for them, rather than accepting the ‘one-size-fits-none’ model that exists today. Features include unrestricted health and lifestyle accounts, paperless transactions and a pay-per-use model where employers only pay for what their teams use.
The company also helps employers bring health into the workplace by providing onsite services that people want to use such as yoga, biometric screenings and mental health programs.
“League is changing an antiquated industry by putting more access and control in the hands of the consumer and creating a product that is tailored to their unique health and wellness needs,” said Mike Serbinis, founder and CEO, League Inc.
“It’s about dragging the industry out of the stone ages. More than 155M Americans rely on their employers for health coverage but very few find it a meaningful experience. League delivers an integrated solution that connects the provider, the consumer and the employer – making the experience of health benefits simply better.”
Follow League on Twitter @JoinLeague or visit league.com.
May 30, 2017
Istuary Innovation Group Partners with Next Generation Health Insurance Platform League
Full suite of insurance products on digital platform offers paperless, flexible health benefits.
Vancouver, BC, May 30, 2017 – Istuary Innovation Group selects League, the digital alternative to traditional health insurance, in an effort to ensure employees access to a full suite of insurance products on a seamless, secure, real-time platform that connects consumers to their healthcare benefits, with the touch of a button on their mobile phone.
Working with a startup that breaks traditional norms but provides options to employees, fits with Istuary’s entrepreneurial spirit. Said Francois Guay, Director of Talent and Culture, Istuary Innovation Group, “Istuary reviewed its options from multiple carriers and decided that our employees should have more choices in how they utilize their benefits rather than place limits on how much they can spend per service per visit. In today’s environment, we should all have more choices.”
League’s digital platform includes digital health spending accounts, lifestyle spending accounts and workplace health services – providing businesses the flexibility to build benefits plans that works for them and their employees. “Our partners expect a consumer-first experience that offers more flexibility and a digital connection to healthcare providers, eliminating the need for paper forms,” said Michael Serbinis, CEO and founder of League.
Employees will be able to find a healthcare provider on the mobile app or use their own provider, interact with a League administrator in real-time, make payments and get reimbursed within 24-48 hours.
Istuary Innovation Group is a Canadian technology company with a mission to connect local technology to global markets through glocalization for sustainable innovation. Istuary focuses on identifying and filling technology gaps in foreign markets by leveraging Canada’s world class design and engineering talent. Operating in 3 countries, 30 cities, and employing over 1500 employees worldwide, go to www.istuary.com for more information.
League is the new digital alternative to traditional health insurance that connects employers and employees to a comprehensive network of health services and benefits, giving them unparalleled choice, convenience and value. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier, happier lives. League Insurance Agency Inc. is a licensed subsidiary of League Inc. For more information, visit league.com.
Shirley Wong Walker
Manager, External Relations
Istuary Innovation Group
May 8, 2017
InnoCare Ltd. and League Team Up to Streamline Access to Health Clinics for Canadians
Toronto, ON – May 8, 2017 – InnoCare Ltd. announces a new partnership in the extended health benefits industry. Pairing with League Inc., the digital alternative to traditional health insurance, InnoCare will add their Canada-wide network of clinics to League’s comprehensive list of healthcare providers.
Known for their innovative approach to health benefits, League provides a digital platform connecting employers and consumers with health and wellness service providers. Unlike traditional employee health benefits, League unlocks restrictive caps and allows employees to use their allotted spend on the services they need most.
“We are delighted to join such a progressive Canadian company in the provision of wellness solutions. Combining our extensive network of clinics with League’s consumer-first service offering means we can extend our reach and help even more Canadians get the care they need,” states Heather Shantora, CEO of InnoCare.
InnoCare’s extensive Canada-wide network of health clinics offers a variety of paramedical services including physiotherapy, massage therapy, acupuncture, chiropractic care and more, all in an interdisciplinary clinic setting. InnoCare is dedicated to building efficiencies through the use of technology to streamline care and get patients healthy, faster.
Michael Serbinis, Founder and CEO of League, built the platform to help people better prioritize their health. “Employers are seeing the value in providing their employees with improved access to quality healthcare services like InnoCare. The ability to manage the entire process through a seamless, end-to-end digital experience makes it easy.” Through this partnership, both companies hope to continue to push for innovation in the delivery and management of healthcare services in Canada.
League Inc. is the new digital alternative to traditional health insurance that connects employers and employees to a comprehensive network of health services and benefits, giving them unparalleled choice, convenience and value. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier, happier lives. League Insurance Agency Inc. is a licensed subsidiary of League Inc.
For additional information about League Inc, visit league.com.
Follow League on Twitter @JoinLeague.
InnoCare Ltd. is a Canadian healthcare market leader focused on the development of innovative healthcare technology designed to anticipate and respond to the growing needs of Canadian healthcare professionals and patients. InnoCare provides propriety cloud-based practice management software and back office administrative support services designed specifically for independent clinic owners across Canada. These services include a Canada-wide network of paramedical healthcare clinics, a state of the art call centre, centralized billing, marketing, HR, and payroll services.
For additional information about InnoCare, visit Innocare.ca.
Follow InnoCare on Twitter @InnoCareLtd, LinkedIn at InnoCare Ltd.
June 14, 2016
Digital Health Insurance Platform LEAGUE Raises $25M Series A from Leading Venture Capital
Powerhouse syndicate funding digital alternative to traditional health insurance
June 14, 2016 – TORONTO: Today, LEAGUE, a new digital health insurance platform, announced it has raised $25M USD in Series A financing, led by OMERS Ventures, Canada’s largest investment firm. The team of investors also includes financing from: Infinite Potential Technologies; Real Ventures and BDC. Strategic investments have been provided by: RBC, owner of Citi National; John Hancock’s parent company, Manulife Financial; and Power Financial Corporation, which owns Empower.
“We started LEAGUE to transform the consumer healthcare experience and today we are doing that by redefining health insurance with a digital platform that puts the consumer first and lowers costs for employers with digital payments,” said Michael Serbinis, founder and CEO of LEAGUE. “We are thrilled to have the support of our new and existing investors to build the team and product we need to accelerate our growth. LEAGUE is simplifying the employee benefits process by providing choice and convenience for the employee, and lowering cost for employers.”
Founded by serial entrepreneur and KOBO creator Michael Serbinis, LEAGUE plans to redefine how people manage their health on a daily basis by aggressively expanding its product offering and geographic reach to top markets in the U.S. This venture creates a syndicate of investors that provides the financial and strategic backing for LEAGUE to pursue the $100 billion+ market opportunity for health insurance in North America.
The financing follows the company’s successful launches in Seattle, Toronto, and Vancouver in 2015. LEAGUE fills a significant void for employers by offering Health Spending Accounts, Wellness Accounts, and Group Insurance Plans delivered through a mobile-first platform that provides an exceptional consumer experience never before seen in the industry.
“LEAGUE is revolutionizing how employers and employees interact with their benefits, leveraging technology to deliver a differentiated and affordable offering to small and medium-sized businesses across North America,” said Sid Paquette, managing director, OMERS Ventures. “OMERS has had a longstanding relationship with Mike and the team at LEAGUE since day one, and we are proud to be a part of this next phase of their incredible journey.”
Visit league.com or download the app on your smartphone for more information.
LEAGUE is the new digital alternative to traditional health insurance that connects employers and employees to a comprehensive network of health services and benefits, giving them choice, convenience and value. LEAGUE empowers people to Be Better® every day.
OMERS Ventures is the venture capital investment arm of OMERS, one of Canada’s largest pension funds with over $77 billion in net assets. OMERS Ventures is a multi-stage investor in growth-oriented, disruptive technology companies across North America. We seek like-minded partners with a shared vision of building a vibrant and successful knowledge economy.
Infinite Potential selectively invests in and supports experienced operators and world-class researchers to build transformative businesses and products for global markets based on new and compelling technologies.
Real Ventures invests in ambitious entrepreneurs that are creating the Internet experiences of the future or embracing the power of the Internet to disrupt existing industries or business models. Its team and networks support entrepreneurs and propel their companies forward. The best entrepreneurs do their homework on prospective VCs and the best Canadian entrepreneurs want to be backed by Real Ventures. Visit realventures.com for more information.
Partner, Real Ventures
The BDC IT Venture Fund manages over $300 million with offices in Vancouver, Toronto, Ottawa, Montreal and Calgary, with strong links to Silicon Valley. The investment focus is on early stage, high growth companies with passionate and visionary entrepreneurs in the Enterprise, Internet and Mobile sectors. The fund has invested in many successful companies including Radian6, Bycast, Q1 Labs and Layer 7. The IT Venture Fund is part of BDC Capital, which has more than $1.4 billion under management and more than 25 years of investing experience in IT, health and energy/clean technology companies, as well as venture funds. Find out more at www.bdc.ca/vcitfund or follow us on Twitter @BDC_Capital.
Managing Partner, IT Venture Fund
Associé directeur, Fonds TI
Business Development Bank of Canada
Banque de développement du Canada
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. To learn more, visit www.rbc.com.
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Follow Manulife on Twitter @ManulifeNews or visit www.manulife.com or www.johnhancock.com.
Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States and Europe. It also has diversified investments in industrial companies based in Europe. Power Financial Corporation is a member of the Power Corporation Group of Companies. To learn more, visit www.powerfinancial.com.
Mr. Stéphane Lemay
Vice-President, General Counsel and Secretary