CXA Group, a Singapore-based provider of a predictive and data intelligence platform to improve health, wealth and wellness choices, raised $25m in funding.
Backers included HSBC, Singtel Innov8, Telkom Indonesia MDI Ventures, Sumitomo Corporation Equity Asia, Muang Thai Fuchsia Ventures, Humanica and Heritas Venture Fund.
The company intends to use the funds to accelerate growth in the Asia-Pacific region.
Founded in 2013 by Rosaline Chow Koo, Chief Executive Officer, CXA Group provides a predictive and data intelligence platform to improve health, wealth and wellness decisions.
The self-service platform allows employers to give their employees access to a range of health, wealth and wellness offerings, personalized based on the individual’s health and life-stage data. Employees can purchase offerings by drawing down on existing insurance policies provided by their employers and using funds that are then released into the platform’s eWallet to make transactions cashless, fast and easy.
The company serves more than 600 enterprises, including Fortune 500 companies, and more than 400,000 employees in 20 countries.
This latest funding round follows US$33m in total funding from Series A and B in 2015 and 2017 respectively. Other investors in CXA include B Capital Group, Openspace Ventures, Government-linked strategic investor EDBI, BioVeda Capital, FengHe Asia, Philips and RGAx.