Keas Raises $7.4 Million Series C For Its Employee Wellness Program

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Keas, a San Francisco-based employee wellness startup, announces the closing of a $7.4 million Series C led by returning investor Ignition Partners, and with participation from new investor Atlantic Investors, and other undisclosed investors. The new funding follows an $8 million Series B round closed in June 2013, that was also led by Ignition Partners. The funding brings Keas’ total raised to $33 million since its 2008 launch.

Keas markets an employee wellness platform that poses as a social network, driving consumer engagement through established best practices borrowed from other industries. The company delivers a web-based health management tool that employees use to form groups and sign up for group health challenges. Group challenges can focus on weight loss goals, establishing healthier eating habits, or increasing daily activity levels. Employees work together toward accomplishing their group’s goal. Progress is posted to the Keas social network, and as a result participants receive encouragement and motivation from their group members. The challenges are incentivized by employers through a variety of reward structures that vary from employer to employer, but that are designed to help keep groups goal-focused as they sign up for new challenges.

Keas integrates existing health benefits tools into its platform so that employers only have one health benefits tool to work through. Keas’s platform facilitates health insurance enrollment, benefits explanations and Q&A support, and a variety of other HR-focused tasks. On the back-end, administrators are provided data analytics dashboards that highlights savings across various populations within the employee-base. The analytics tools also identifies areas where savings are lower than they should be. In this case, Keas provides actionable recommendations for targeting and capturing those additional savings.

Keas has attracted some large corporations with massive, internationally distributed, employee bases, including: Target, Pfizer, BAE Systems, and Safeway.


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