YuLife raises $70 million
YuLife has raised a $70 million Series B led by Target Global, bringing its total funding to over $86 million.
Founded in 2016, YuLife incorporates incentive-based employee benefits into group coverage . Its life insurance includes everything in a traditional group life insurance policy – but also adds critical illness, income protection, virtual GP services and employment assistance such as counseling and coaching. YuLife also enables employers to reward healthy living by offering employees discounts and vouchers from leading brands including Amazon, ASOS, and Avios which can be purchased with YuCoin, YuLife’s virtual currency, earned by completing everyday wellness activities such as walking, cycling, meditation, and mindfulness.
“YuLife is redefining life insurance, using the most innovative technologies to transform a largely traditional industry. With health and wellbeing increasingly thrust into the limelight in the wake of Covid-19, YuLife is fundamentally changing insurance by incentivizing people to lead healthier lifestyles. YuLife is ideally positioned to build on its tenfold growth during the pandemic and lead the way in helping its clients respond to the challenges posed by an ever-changing working environment. We are very proud to partner with YuLife on its journey of becoming a global leader in life insurance.” – Ben Kaminski, Partner, Target Global.
According to the company, it provides over $15 billion of total coverage to employees and their families at world-leading companies, including Capital One, Co-op, Curve, Havas Media, Severn Trent, and Sodexo.