Jiff Expands Series C with an Additional $17.7 Million
Jun 7, 2016
Funding Follows Year of Rapid Growth as Jiff Drives Engagement of Digital Health Benefits.
MOUNTAIN VIEW, Calif., June 7, 2016 /PRNewswire-iReach/ — Jiff, Inc., the leading enterprise health benefits platform, today announced that it has raised an additional $17.7 million, an expansion of the $23.5 million in Series C funding it announced last year, closing this round of funding at a total of $41.2 million. The new funding comes as Jiff continues to see strong growth in customers, number of lives covered, and key partners, and the development of its product. These funds will be used to further expand Jiff’s product offering. The Jiff platform uses a powerful combination of technology, incentives, and engagement methodologies which allows employers to engage their employees in activities that save on healthcare costs.
“Jiff is tackling a massive problem: bringing together all the innovations in digital health an employer may have bought, as well as ones they purchase through Jiff, into one coherent place and driving employees to use them to bring down healthcare costs and drive up healthy outcomes,” said Derek Newell, CEO of Jiff. “This new funding is a huge vote of confidence in Jiff and our mission to make health benefits smarter and more cost effective.”
One of the greatest challenges for the digital health industry is getting people to use its innovations to drive up positive health outcomes and drive down costs. Jiff takes on the engagement problem for employers, and has seen between two and five times the utilization rate of money-saving point solutions versus the industry average. As a result, Jiff has expanded its client base by 32 percent and increased the number of employees on the platform by 40 percent since the beginning of this year. In addition, Jiff has increased the value and versatility of its platform by adding industry-leading health apps, tools, and services, from Garmin to MyDietitian. Jiff’s team is growing as well, with a workforce of 120 employees located in its Mountain View headquarters and Oakland office. This impressive growth has strengthened Jiff’s alliances with longtime HR mainstays Willis Towers Watson and Mercer.
Jiff’s enterprise health benefits platform brings together the best of digital health technology and services in a data-driven platform that allows employers to manage them, to see what works, personalize benefits for an employee, and then get them to engage. A recent analysis of Jiff’s current customers found that 73 percent of participants on the Jiff platform interact with their Jiff app at least once a week and 35 percent of them interact with it daily. By delivering personalized incentives, real-time data analytics, and an easy-to-use experience that proactively navigates each employee to the resources that will benefit them the most, Jiff targets individual employee cost drivers and increases utilization of those services proven to save money. Jiff’s enterprise health benefits platform helps employers lower healthcare costs by delivering the right benefits to the right employees at the right time.
Jiff recently introduced three new product and services packages: Jiff Enterprise Navigator™, Jiff Total Wellbeing™, and Jiff Launch Pad™. Each solution offers a different set of programs, features, and services, but all motivate employees to engage with their health benefits.
With the additional funding and new employer health benefits solutions, Jiff can offer every employer a benefits platform that fits with their preferred vendors, health benefits design, and unique employee population. With Jiff, employers can control costs and create a happier, healthier, and more productive employee population.