Framingham-based Virgin Pulse, which is part of and backed by Richard Branson’s Virgin Group, announced today that it has closed a $92 million round of financing led by Insight Venture Partners. As part of the deal, managing director Nikitas Koutoupes and Insight Venture Partners VP Anika Agarwal will be joining the board of directors for the company. Virgin Pulse provides programs and tools that promote employee well-being, with the ultimate goal of boosting staff productivity and lowering healthcare costs for employers.
"With this investment, Virgin Pulse will accelerate our creation of market-leading products that change lives and create sustainable and satisfying results for companies and their employees,” said Virgin Pulse CEO Chris Boyce in a news release. "We plan to delve further into the scientific research that backs our habit-forming platform, hire new team members, and potentially make some acquisitions."
This funding announcement follows the firm’s recent launch of a new online platform, which allows enterprises to support their employees in building healthy daily habits and making positive, sustainable behavioral changes.
"Virgin has long held the belief that if you take care of your employees, they’ll take care of your business," said Branson in a press release. "Virgin Pulse is the perfect example of an organization that’s helping companies do precisely that. We invested in this business as a start-up and see huge opportunities for continued global growth. With this new partnership with Insight Venture Partners, experts in investing in innovative technology companies, we look forward to seeing the Virgin Pulse team deliver even more game-changing solutions that make workforces across the world healthier, happier, and more productive."
Currently, Virgin Pulse is the provider of choice for more than 250 companies representing more than 2 million employees. Roughly 150 employees work out of the Framingham office.
Photo of Richard Branson via Shutterstock.
