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MELBOURNE, AUSTRALIA, October 03, 2019 /24-7PressRelease/ -- Melbourne-founded HealthChase, a startup whose software platform engages teams to drive performance and wellbeing, has closed a seed funding round led by Uluwatu Capital.
The funding will be deployed into growing the sales & marketing capability of HealthChase and enable the company to expand globally into sectors including retail, mining, oil & gas, transport & logistics, energy and manufacturing.
Led by Kyla Martin and Helen Fogarty, since 2016, HealthChase was born to provide a software platform that engages teams to drive wellbeing, culture and business performance. It uses gamification to engage, motivate and measure sustainable change, drive performance and support mental health & wellbeing, with reference clients including Australia Post, BP, Bank Australia and Ford.
Kyla Martin, CEO and co-founder of HealthChase, said: "We have an amazing opportunity to improve mental health and wellness in the workplace, which costs Australian businesses $67 billion dollars per year in absenteeism and presenteeism, which equates to $11,667 per full time worker in every company in Australia."
"Unhealthy lifestyle & stress as well as poor work-life balance are 2 of the top 4 causes of both absenteeism and presenteeism, and this is what HealthChase is focussed on, in a way that drives team engagement and ultimately company performance."
James Cotton, Founding Partner of Uluwatu Capital, said: "Corporate health and wellness cannot be ignored as it has been in the past, and what impressed me so much about HealthChase was the willingness of employees to engage with the HealthChase platform, to improve their own health and wellness as well as their company's performance. I have never seen such levels of engagement in enterprise software, so we believe that HealthChase can have a huge impact both on employees and organisations."
It comes as research from Medibank Private and the Absence Management Survey estimates that absenteeism and presenteeism inactivity costs the Australian economy US$67 billion per annum, which results in a cost of $11,667 per full time worker to every company in Australia. So if a company has 1000 employees, this will cost $11.7m per year.
"We have the chance to help employees boost their mental health and wellness, whilst greatly improving company performance which is an incredibly exciting opportunity to spend time and money on, to bring it to as many people and organisations as possible. We feel incredibly privileged to be part of the journey developing and growing HealthChase to its full potential," James Cotton said.
To arrange interviews:
Phone number; +61 421 247 428
HealthChase is an enterprise software platform that engages teams to drive performance and wellbeing used by global leaders including BP, Ford, Australia Post and Bank Australia in industries including retail, mining, oil & gas, transport & logistics, energy and manufacturing. See further information at www.healthchase.com
About Uluwatu Capital
Uluwatu Capital is an Impact focused venture capital firm, using investments as a force for good. We work with fellow entrepreneurs to make the world a better place for future generations, investing in purpose driven technology businesses run by entrepreneurial people with a shared vision and potential to scale. Uluwatu was founded by James Cotton after he sold CMO COMPLIANCE Software, a leading risk & compliance software as a service platform. See further information at www.uluwatucapital.com
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