Acquisitive wellbeing firm completes £1.3m fundraise to focus on overseas growth
An acquisitive Leeds-based digital wellbeing platform has successfully raised £1.3m to support its growth overseas – a year since its launch to tackle wellness and health issues.
Hero, a health tech and wellbeing strategy provider, was formed to have a positive influence on individuals, organisations and communities by supporting proactive wellness across all areas of physical, mental and financial health.
The business launched in April 2018, employing a team of 12 – which is soon to be more than 40 – and then acquired two businesses during the year. This included Colour-Fit – a professional sports nutrition business which works with more than 50 national and international teams – and UK Wellbeing Coach, one of the leading employee health, fitness and wellbeing service companies in the UK.
Joe Gaunt, CEO and Founder of hero, said: “The investment is an incredible endorsement of our strategy so far, and we are now focussed on the opportunities, which this investment unlocks. Ultimately, we will be focusing on growing our reach within the UK market and launching our service in key territories overseas.
“Innovation will always be central to hero so exceptional product development will continue at pace, our teams will expand to support our international roll out, which will drive our mission to deliver positive change in the world by creating healthier and happier communities, one unique human at a time.”
Last year, hero secured a significant deal with Yorkshire based development firm, Moda. The company’s first scheme, Angel Gardens in Manchester, offers potential to innovate the residential sector and promote the benefits of healthier city centre living.
The partnership with Moda will also see hero launch its first Training Club in the heart of Manchester. Rather than simply creating gyms and shared amenities, hero will be forging a more inclusive approach to support Moda residents’ and employees physical, social and mental wellbeing. The hero Training Club will also be open to non-Moda residents.
Hero said that in the UK alone, wellbeing issues affect one in four people, which in turn costs the economy over £57bn a year in lost productivity.
Gaunt added: “When we feel healthy something magic happens. We are more confident, self assured and have a positive mindset. We are also more giving and open to helping others so it comes as no surprise that healthy and highly engaged employees are, on average, up to 30 days more productive and organisations promoting health and wellbeing are 3.5 times more likely to be creative and innovative.
The global wellbeing market is now estimated to be worth $4.2tn and is a subject moving up the boardroom agenda; influencing not only HR but commercial strategy too.
Hero works with over 100 clients across the UK including the NHS, HSBC, Legal and General, Caddick Construction and Inspired Villages.
Since its launch, hero has gathered more than 50,000 data points from its wellbeing discovery surveys. This has enabled the team to advise and work with clients on clear, impactful and measurable strategies.
