BioBeats, a platform that uses machine learning to deliver real-time insight into the well-being of employees, has closed a $2.28m funding round led by White Cloud Capital.
The round also drew support from AXA Strategic Ventures and IQ Capital.
Founded in 2013, the firm said it will use the newly procured funds to deliver its corporate and consumer product and to commercialise its biometrics-based coaching app.
Speaking about the raise, Dr. David Plans, co-founder of BioBeats, said: “Understanding employee wellness is critical to building great global businesses. BioBeats allows companies to keep a finger on the pulse of their organizations and encourage individual wellness.
“Our competitive advantage is our people, the fact we’ve been doing this longer than anyone else, and cracking the algorithms and understanding of the patterns of stress with the onset of disease. This investment will enable us to expand our reach and product capabilities,” he added.
Isabel Fox, head of ventures at White Cloud Capital, commented on her firm’s involvement in the round, praising the company’s technology:
“Having seen first-hand the positive impact of BioBeats’ data driven approach and dashboard, as well as its phenomenal growth with consumers and corporates alike, I am excited to be an investor. BioBeats is a clear leader in real-time biometrics through its deep machine learning capabilities.”