Insurer AXA's venture capital platform AXA Strategic Ventures has invested in BioBeats - a machine learning platform that delivers information about the wellbeing of individuals in real time.
Using existing wearables and smartphones, this cloud-based programme gathers biometric information about wellbeing and builds a unique profile on a personal dashboard regarding sleep, activity, and stress.
The software uses these insights to design a personalised coaching programme around individual wellbeing goals.
The application is currently running advanced pilot programmes in major UK healthcare companies and corporates, including with AXA PPP Healthcare.
The funding round (£1.6m) led by White Cloud Capital with the participation of IQ Capital, will be used to implement product delivery and commercialisation of its biometrics based, stress-relieving app, Hear and Now, for both the consumer and corporate wellness market, as well as the company's expansion into the US market.
David Plans, CEO and co-founder at BioBeats said: "A deep understanding of employee wellness is critical to building a great global business, and BioBeats allows companies to keep a finger on the pulse of their organisations and encourage individuals to own their wellness."
Minh Q.Tran, general partner at AXA Strategic Ventures said: "We are convinced that prevention is the best cure and that BioBeats' approach will allow our business customers to understand employee wellness and build greater, global businesses."
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