CXA Group, a Singapore-based health technology startup, raised $25m in Series B funding.
Backers included B Capital Group, EDBI, Philips and RGAx, a subsidiary of Reinsurance Group of America Incorporated. In conjunction with the funding, B Capital Group’s venture investor and Facebook co-founder Eduardo Saverin joined CXA’s board.
The company intends to use the funds to scale its existing platform and operations beyond Singapore and Hong Kong, to include China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, Taiwan and Thailand.
Led by Rosaline Chow Koo, founder and CEO, CXA Group provides employers with a SaaS based employee benefits and workplace wellness platform using health screening, lifestyle risks, sensor and claims data to predict future premiums.
Employers use the platform to consolidate all their vendors into a single marketplace, digitizing claims, health data and payment flows between employees, companies, insurers and providers.