Betterfly is a technology company.
Betterfly has raised $190.0M across 2 funding rounds.
Betterfly has raised $190.0M in total across 2 funding rounds.
Betterfly is a technology company in the InsurTech space that builds an employee wellness platform combining personalized insurance, benefits, and gamified wellness programs with a social impact mission.[1][2][3][5] It serves corporations (B2B2C model) by providing tools for employee protection, healthy habit tracking (e.g., walking, exercising, meditation), and automatic coverage increases based on activity, while generating donations to social causes from user actions.[2][3][5] The platform solves low employee benefits utilization—only 20% typically engage—through customizable, no-exam insurance, easy digital management, and engaging challenges that boost health, productivity, team culture, and planetary impact as a Public Benefit Corporation and Certified B-Corp.[1][3][5] Operating in 8 countries, it's Latin America's #1 protection and benefits platform with strong growth, including 400+ employees and expansion from Chile to the U.S.[2][3][4]
Betterfly was founded in 2015 (some sources note 2018 under its prior name, Burn to Give) in Santiago, Chile, where its headquarters remain.[2][4] It emerged from an idea to reimagine insurance by linking personal wellness actions to broader financial protection and social good, evolving from a fitness-focused app into a comprehensive InsurTech platform.[1][2] Early traction came via a gamified model encouraging healthy behaviors for rewards, gaining momentum in Latin America (94% of revenue from Chile, Mexico, Spain) before U.S. expansion into a market 30 times larger.[2][4] Pivotal moments include becoming a B-Corp, scaling to thousands of organizations, and building a 400+ global team in a modern Santiago HQ designed for innovation and wellness.[1][3][4][5]
Betterfly rides the InsurTech and corporate wellness boom, where gamification, AI-driven personalization, and purpose-driven business models address rising employee burnout and healthcare costs amid hybrid work trends.[2][3] Timing aligns with post-pandemic demand for mental/physical health tools—especially in underserved Latin American markets—while U.S. expansion taps a massive opportunity.[2] Favorable forces include SaaS efficiency, B-Corp appeal to ESG-focused employers, and competitors like dacadoo or Unum validating the space but lacking Betterfly's social donation hook.[2] It influences the ecosystem by pioneering "wellness-as-insurance," inspiring B2B platforms to prioritize engagement over static benefits and accelerating impact investing in healthtech.[1][5]
Betterfly is poised for accelerated U.S. and global scaling, leveraging its Latin American dominance to capture enterprise clients seeking measurable ROI on wellness (e.g., productivity gains, retention).[2][3] Trends like AI-enhanced habit tracking, embedded insurance in HR tech, and climate-linked social impact will shape its path, potentially driving unicorn status via further funding.[1][2] Its influence may evolve from regional leader to global InsurTech standard-setter, redefining benefits as dynamic, mission-aligned ecosystems that empower healthier, more connected workforces—proving small daily actions truly transform lives and businesses.[1][3][5]
Betterfly has raised $190.0M in total across 2 funding rounds.
Betterfly's investors include Kaszek Ventures, Norte Ventures, QED Investors, Softbank Latin America Fund.
Betterfly has raised $190.0M across 2 funding rounds. Most recently, it raised $130.0M Series C in January 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2022 | $130.0M Series C | Kaszek Ventures, Norte Ventures, QED Investors | |
| Jun 1, 2021 | $60.0M Series B | Kaszek Ventures, Norte Ventures, QED Investors, Softbank Latin America Fund |