Total amount raised
$271.1 Millions
Latest funding date
02/01/2025
Location
League has successfully raised significant funding through multiple rounds, with notable investors such as Morningside and RBCx backing the company. The platform is designed to enhance the healthcare consumer experience through AI-based digital health solutions.
Keep reading to explore the intricacies of League's fundraising journey and the investors supporting this innovative healthcare platform.
What Is League?
League, founded on June 12, 2014, by Dan Galperin, Daniel Leibu, and Michael Serbinis, is headquartered in Toronto, Ontario, Canada. The company operates in the healthcare technology industry, focusing on enhancing the healthcare consumer experience through its AI-powered platform.
With a workforce of 501-1000 employees, League offers a range of products and services, including Health Benefits Experience (HBX), Digital Navigation, Member Portal, Care Journeys, Wellness and Rewards, and Care Management. The platform connects users to a comprehensive network of health services and benefits, driving personalized digital health experiences.
How Much Funding Has League Raised?
- Seed Round
- Amount Raised: $4M
- Date: November 2014
- Lead Investors: OMERS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of League's healthcare consumer experience platform.
- Series A
- Amount Raised: $25M
- Date: June 2016
- Lead Investors: OMERS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series B
- Amount Raised: CA$62M
- Date: July 2018
- Lead Investors: TELUS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI-driven health solutions and expand market reach.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: October 2019
- Lead Investors: Workday Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate corporate partnerships and drive innovation.
- Series C
- Amount Raised: $95M
- Date: December 2021
- Lead Investors: TDM Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand internationally.
- Debt Financing
- Amount Raised: $100M
- Date: January 2025
- Lead Investors: RBCx
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel AI product development, sales capacity, and potential M&A.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2025
- Lead Investors: Morningside
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing innovation and market expansion.
Total Amount Raised: $224M USD
Current Valuation: Not publicly disclosed
Key Investors
- Morningside
- Details: Morningside is a private equity and venture capital firm that invests in early-stage companies. It has a global presence and focuses on fostering innovation and growth.
- Investment Focus Areas: Healthcare, Biotechnology, Technology.
- Notable Investments: Moderna, Editas Medicine, Ginkgo Bioworks.
- RBCx
- Details: RBCx is the technology and innovation arm of the Royal Bank of Canada (RBC). It supports technology companies through its comprehensive financial services and expertise.
- Investment Focus Areas: AI Product Development, Sales Capacity, Mergers and Acquisitions.
- Notable Investments: League Inc., Borrowell, Wave Financial.
- TDM Growth Partners
- Details: TDM Growth Partners is a global investment firm that partners with founders and management teams to build long-term value. They focus on high-growth companies.
- Investment Focus Areas: Technology, Consumer, Healthcare.
- Notable Investments: Spotify, Twilio, Slack.
- Workday Ventures
- Details: Workday Ventures is the strategic investment arm of Workday, Inc., focusing on early to growth-stage companies that can complement Workday's offerings.
- Investment Focus Areas: Enterprise Software, AI, Machine Learning.
- Notable Investments: BetterUp, Scout RFP, Pymetrics.
- TELUS Ventures
- Details: TELUS Ventures is the strategic investment arm of TELUS Corporation, focusing on innovative technology companies that align with TELUS's business objectives.
- Investment Focus Areas: Healthcare, IoT, AI.
- Notable Investments: League Inc., Hootsuite, Vision Critical.
What's Next for League?
League's future is brimming with opportunities, driven by its impressive growth and strategic financing. With 40 million contracted users and a 160% year-over-year growth, the company aims to scale its platform to reach 100 million users by 2030. The recent $100 million USD financing deal with RBCx will fuel AI product development, expand sales capacity, and support potential mergers and acquisitions.
Future fundraising opportunities are likely, given the company's ambitious goals and the $235 million already raised in venture capital. However, challenges such as maintaining rapid growth, navigating regulatory requirements, and staying ahead of competitors in the healthcare technology sector will need to be addressed. League's ability to innovate and form strategic partnerships will be crucial in overcoming these hurdles and achieving its long-term vision.
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