YuLife Raises $70M in Series B Funding


YuLife, a London UK-based tech-driven insurance company, raised $70M in Series B funding.

The round was led by Target Global with participation from Eurazeo and Latitude, Creandum, Notion Capital, Anthemis, MMC Ventures, and OurCrowd.

The company will use the funds to develop new products, expand its UK market penetration, and broaden its reach into the markets.

Led by Sammy Rubin, CEO and Founder, YuLife is a tech-driven company that transforms traditional group life insurance into a suite of wellbeing and insurance products, creating a shift in the industry towards a model that simultaneously supports members, insurers and employers. YuLife’s life insurance includes everything in a traditional group life insurance policy – but also adds critical illness, income protection, virtual GP services and employment assistance such as counselling and coaching. Active members make proactive lifestyle changes, prevent physical and mental illness, and financially protect themselves thanks to essential services.

YuLife also enables employers to reward healthy living by offering employees discounts and vouchers from leading brands including Amazon, ASOS, and Avios which can be purchased with YuCoin, the company’s virtual currency, earned by completing everyday wellness activities such as walking, cycling, meditation, and mindfulness. By incentivising healthy living, YuLife provides employers with a way to boost retention rates and improve employees’ standard of living.

Premiums in the past year already providing over $15bn of total cover to employees and their families at companies, including Capital One, Co-op, Curve, Havas Media, Severn Trent, and Sodexo.