London-based health startup Yomp, which raised $315,000 (£200,000) from five angel investors last year, set out to be a heath and wellness platform which ‘gamified’ company employees into healthy habits, thus increasing productivity, reducing absenteeism, you know the drill. It’s now been acquired for an undisclosed sum by Reward Gateway, the ’employee engagement’ tech company.
Yomp’s mobile app logs trips, tracks stats, lets you form teams, set goals and earn points – like an AirMiles for being healthy. Clients included Dentsu Aegis Media, Bloomberg and EDF Energy.
Competitors to Yomp include the incumbent in the space, Global Corporate Challenge, Keas (ex-Google founders with huge growth), EveryMove, GetHealth, Maxwell Health (bigger remit but similar budgets) and Challenge for Change / Love2Ride.
Launched by co-founders Ry Morgan and Anthony Gajou in 2012, Yomp allows employees to form teams, sync with wearables such as Fitbit and Jawbone, track their stats, and earn rewards or charitable donations for their efforts. The software helps employers create a healthier, happier workforce, and has plans to expand into other areas of wellbeing throughout 2016
Yomp’s founder Ry Morgan will join the company as head of wellbeing technology, and CTO Pascal Gessati is joining as principle engineer.
Reward Gateway is a £150 million revenue SaaS business employing 300 people in six countries. Clients include IBM, American Express, Diageo, Heineken, McDonald’s, Bloomberg, Unilever, DHL, Bayer, AT&T, Yahoo, AOL and Groupon.
This deal is the latest in a trend of M&A within the workplace wellness ecosystem. Last month, Virgin Pulse (which raised a $92 million Series B in 2015) acquired both ShapeUp and Global Corporate Challenge for undisclosed sums. It’s also still a popular area of investment for U.S.-based VCs, with startups like Jiff, Limeade and Keas all raising over $30m a piece in the race for market dominance.