CXA Group nabs $25 million
Singapore-based CXA Group (short for ConneXionsAsia) announced it has picked up $25 million in a Series B round bringing its total funding to date to $33 million. The startup, valued at $100 million, offers a platform to unlock wellness in the workplace by re-channeling some of the money spent on treatment to prevention. According to founder Rosaline Koo, the company is attractive to Fortune 500 companies with highly competitive talent where benefits become a differentiator, and to insurers that look to private label the platform and target SMEs. Getting into the details, the platform allows businesses to set a budget for each employee, who in turn, gets to decide on what to use the money (think: pole dancing, yoga and/or diabetes management to name three). The platform also offers employers an insurance exchange to manage employee benefits and obtain metrics on what wellness programs actually help drive down the cost of claims. Bottom Line: RGAx is an investor.