June 14, 2016 – TORONTO: Today, League Inc., a new digital health insurance platform, announced it has raised $25M USD in Series A financing, led by OMERS Ventures. The team of powerhouse investors also includes financing from RIM founders Mike Lazaridis and Doug Fregin’s Infinite Potential Technologies, Real Ventures, BDC IT Venture Fund, and strategic investors RBC, Manulife, and Power Financial Corporation.
Founded by serial entrepreneur and Kobo creator Michael Serbinis, League plans to aggressively expand its product offering and geographic reach, ultimately redefining how people manage their health on a daily basis. This venture creates a syndicate of investors that provides the financial and strategic backing for League to pursue the $100 billion+ market opportunity for health insurance in North America.
“We started League to transform the consumer healthcare experience and today we are doing that by redefining health insurance with a digital platform that puts the consumer first, and lowers costs for employers with digital payments,” said Michael Serbinis, founder and CEO of League. “We are thrilled to have the support of our new and existing investors to build the team and product we need to accelerate our growth.”
The financing follows the company’s successful launches in Toronto, Vancouver, and Seattle in 2015. League fills a significant void for employers by offering Health Spending Accounts, Wellness Accounts, and Group Insurance Plans delivered through a mobile-first platform that provides an exceptional consumer experience never before seen in the industry.
“League is revolutionizing how employers and employees interact with their benefits, leveraging technology to deliver a differentiated and affordable offering to small and medium-sized businesses across North America,” said Sid Paquette, managing director, OMERS Ventures.
“OMERS has had a longstanding relationship with Michael and the team at League since day one, and we are proud to be a part of this next phase of their incredible journey.”
Visit www.league.com or download the app on your smartphone for more information.
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League is the new digital alternative to traditional health insurance that connects employers and employees to a comprehensive network of health services and benefits, giving them choice, convenience and value. League empowers people to Be Better® every day. Follow League on Twitter @JoinLeague or visit www.league.com.
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