Tictrac is an insurance technology provider that has produced an advanced health and wellness app.
In 2020, Puma Private Equity deployed £5 million of equity into Tictrac, an insurance technology provider that has produced an advanced health and wellness app for insurance companies and corporate clients to provide to their user bases.
With health and wellness being a key global trend, Tictrac is well positioned in providing an engaging tool for people to learn more about their health, drive new wellness habits and access relevant content.
The app integrates data from wearable technology, delivering it to end-users in a digestible format to drive up levels of engagement and increase customer loyalty.
They have long-term relationships with an impressive client base that ranges from globally recognised insurance providers such as Aviva, Cigna, Allianz, Prudential, Generali Employee Benefits and Bupa Hong Kong, to government health bodies. In addition to its market-leading technology and innovative user content, the company has achieved significant growth through establishing strong relationships across the industry. Created in 2010, its founders have assembled a high-quality management team to propel the business’s future growth.
Having already gained a strong foothold in the industry, the company is in a good position to capitalise on these trends and establish itself as a leading provider of insurance technology.
In May 2022, Puma Private Equity completed an attractive exit of its stake in Tictrac, returning a 2x money multiple and 38% internal rate of return on its investment after just two years. The overall transaction is valued at up to £35m.
The exit was realised following a bid by Dialogue Health Technologies Inc, Canada’s premier virtual healthcare and wellness platform, and is the largest acquisition in their history.
The company’s view
Martin Blidner, CEO and Co-Founder, Tictrac
“The funding has allowed us to bring this product to market and move to the next phase of our business.”
“Health and wellness is a central topic in today’s climate, for consumers as well as insurers, government health bodies and corporates, who are increasingly focused on the wellness of their employee base. Tictrac’s solution is uniquely positioned to take hold of this market by providing end users with engaging content on their own health and the latest wellness trends.”