League Inc.
League Inc. is an insurance and benefits platform as well as a financial technology company. The company mission is to give people the power to act every day and live longer, healthier lives. League provides defined contribution benefits plans, where employees receive spending accounts that give them the flexibility to spend their benefit dollars as they wish. The League suite of products includes health insurance, health spending accounts, and workplace wellness sessions, services, and seminars. In 2016, League raised $25M USD in Series A funding, one of the largest sums of venture capital funding in Canadian history.[1]
History[edit]
In August 2014, after successfully selling their previous company, Kobo, Michael Serbinis, Dan Galperin, Dan Leibu and Todd Humphrey began work on a secret venture called Project Everlong.[2] The working title was selected in homage to the Foo Fighters song by the same name, the first song that came on when the group realized they needed a name.
After attending a conference in Los Angeles on the future of health care, Serbinis realized there was one important thing missing from the discussion. He noted that all conversations about the future of health care focused on the technologies of the future, leaving the consumer behind to fill out insurance forms.[3] Serbinis, Galperin, Leibu and Humphrey started League to put the consumer at the centre of health care once again.
Serbinis and his team chose the name League based on its roots in public health: ancient Romans were encouraged healthy by taking care of themselves and walking one league, or about an hour, every day.
On May 27, 2015, League launched its app and platform in Canada, allowing members to book and pay for health and wellness services through the League app.[4] While League initially targeted consumers directly, they discovered their product resonated with businesses and were encouraged to provide a full suite of benefits. League began offering Health Spending Accounts (HSAs) in late 2015.
In June 2016, it was announced that League raised $25M USD in Series A funding, one of the largest venture capital funding rounds in Canadian history. Investors include OMERs Ventures, Royal Bank of Canada, Manulife, Power Corporation of Canada, BDC, Infinite Potential Technologies and Real Ventures. On October 12, 2016, League officially announced its insurance offering, underwritten by RBC Insurance.[5][6]
Awards and Recognition[edit]
- 2016 Fintech 100[7]
Related Searches[edit]
References[edit]
- ↑ "Mike Serbinis says LEAGUE raising Series A to tackle North American market". BetaKit. Retrieved 2016-11-18.
- ↑ mserbinis (2014-08-05). "Crouching Tiger, Hidden Dragon". the EVERLONG project. Retrieved 2016-11-18.
- ↑ "What I've Learned After $1B of Exits from 33voices". www.stitcher.com. Retrieved 2016-11-18.
- ↑ "Why Mike Serbinis wants to disrupt the employee insurance market with LEAGUE Benefits". BetaKit. Retrieved 2016-11-18.
- ↑ "LEAGUE launches new insurance products with RBC as incumbents fight to partner with the startup". BetaKit. Retrieved 2016-11-18.
- ↑ "Health platform League lands $33-million in VC funding". The Globe and Mail. Retrieved 2016-11-18.
- ↑ "2016 Fintech 100". h2.vc. Retrieved 2016-11-18.
External links[edit]
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