Jiff closed an $18 million Series B round led by Venrock, with participation of Aberdare Ventures and Aeris Capital. The company will use the new money to expand their sales and marketing team, grow their network of sales and distribution partners, and to build out the network of digital health partners across a variety of categories.
“Just as iTunes provided a platform for digital music, Jiff is the platform for digital health programs and wearables, offering employees choice and smart recommendations,” said Derek Newell, Jiff CEO. “This, in turn, makes it easier for companies to provide these technologies, create healthier workforces, and bring down their healthcare costs.”
Aside from Venrock, Aberdare Ventures and Aeris Capital also participated in the round.Despite the changes in American healthcare over the past few years, half of all Americans still get their insurance from their employer. With their costs still rising, large self-insured enterprises are searching for solutions to keep their workers healthy and bring down healthcare costs. And that’s where Jiff’s technology kicks in, providing different options to the employees.
“Self-insured employers spend 30 percent of all healthcare dollars in the US, around $670 billion. It’s staggering,” continued Newell. “And until Jiff, there was no way for employers to aggregate and offer these digital tools to employees, collect the data they create, and use that data to build personalized health incentives and challenge programs.”
Jiff provides an enterprise solution for self-insured employers to connect to and manage hundreds of digital health tools, and provides each employee an individualized health incentives program through an addictive mobile experience.
Since its founding, Jiff has raised $25.8 million in venture capital.