• Investment marks a major milestone in the company’s mission to improve health, wealth and happiness of 1 million people by 2025
• Funding round led by future of work investors NoBa Capital
• Funds will propel product innovation and marketing as well as facilitating entry into new markets in 2023

14 June 2022, London – pirkx, the wellbeing platform built to make wellbeing benefits accessible to everyone, has announced the completion of a £3 million pre–Series A fundraise.

The funding round comes on the back of skyrocketing demand for the service which, for just £4.50 per month per user, gives businesses and individuals a package of health and wellbeing benefits previously available only to employees of large corporations. Over 40 benefits span health, wealth and education and include on-demand GP services, discounted private health cover, counselling and mental health support, shopping discounts and skills training courses. This is all delivered via a uniquely flexible, configurable, self-service platform.

Active users have increased by 168% percent in the last 12 months, driven by SMEs, gig economy workers, contractors and temps at large businesses including Hays. The Federation of Small Businesses (FSB) is also offering access to pirkx as part of its wide range of member benefits. Customers are regularly being helped and supported by the service with engagement levels of 70%, compared to the industry average of 24%.^[1]

The investment will enable the team to kickstart ambitious plans to further enhance the product offering and to expand pirkx’s reach. Having already launched in Australia in 2020, entry into South Africa is next on the agenda. Hiring will see headcount triple across all divisions.

The funding round was led by NoBa Capital. Other investors include Joyance Partners, Love Ventures, 1818 Ventures, Vala Capital and Capital Pilot Boost Fund. The raise takes the total investment to date to £4.2 million with a Series A fundraise expected in the short/medium term.

pirkx has been supported by the Department for International Trade’s UK-Australia Fintech Bridge and Deloitte’s Think Forward Initiative. The business is also a Cohort Member in the Mayor’s International Business Programme. Board members include Dan Cobley, Ex MD of Google UK and Co-Founder of ClearScore and Todd Ruppert, former CEO and President of T Rowe Price Global.

Stella Smith, Founder & CEO of pirkx, said: “This fundraise means a lot. It is validation that what we are building is solving a genuine and far-reaching problem which, for too long, has been left unaddressed. Just 9% of the 3.2 billion workers globally have access to a workplace wellbeing programme^[2]. That’s almost 3 billion people who can be locked out of affordable and potentially life changing services due to factors which, until now, have been out of their control. Me, my team, and our investors are excited to make a difference for as many people as possible as quickly as we can.”

Kevin Fuller, Partner at NoBa Capital, said: “Until now, meaningful employee benefits were reserved for the biggest firms with the budgets to spend on giving staff a better working environment, but they have been out of reach for so many. pirkx is tackling this problem head-on, with a mission to democratise these benefits for people all round the world. We are delighted to have led this round and look forward to working with Stella and her team in the years ahead to deliver this vision.”

Dan Cobley, Pirkx Chairman, said: “It is a pleasure to be doing my bit to maximise the potential of this product. During my many years in the industry, there is nothing more rewarding than when you get to work with a team who cares passionately about the positive impact technology can have on the world and pirkx is one such story.”

ENDS

About pirkx

Only 9% of the 3.2 billion workers globally receive access to a workplace wellbeing programme.

pirkx is on a mission to make wellbeing benefits affordable to everyone. Large businesses often support the wellbeing of their full-time staff through corporate ‘Employee Benefits’. pirkx uses technology to simplify wellbeing access for all, not just those employees in large businesses, via our lightweight, fully customisable, self-service platform and app.

Using just one of our 40+ benefits and services such as the 24/7 private GP, discounted gym memberships, or the pirkx portal for cashback on your weekly shop gives greater value to members than the cost of their membership which costs just £4.50 per person.

For further information:

Georgie Rudkin, Boldspace

[email protected]

Tel: +44 (0) 7584 243641

^[1] Recurly Research; 2021

^[1]  Global Wellness Institute; The Future of Wellness at Work’, 2018 –https://data.oecd.org/emp/

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^[1] Recurly Research; 2021

^[2]  Global Wellness Institute; The Future of Wellness at Work’, 2018 –https://data.oecd.org/emp/