Peppy Closes £1.7M Seed Round to Shake Up Employee Healthcare Benefits

Peppy, the London-based employee healthcare benefit platform, has closed a £1.7m investment round led by Outward VC, with the support of Seedcamp, Hambro Perks, Form Ventures and angel investors. The platform enables employers to provide their staff with access to expert support during critical life transitions, with a focus on family support, female health and mental wellbeing. This funding will support the next stage of Peppy’s growth as it begins to expand its team and the platform with new fertility and mental health support.

Founded in 2018 by Mridula Pore, Evan Harris, and Max Landry, the company is already working with a wide range of employers to provide support to their employees. Organisations including Novartis, the National Lottery Community Fund and others, have turned to Peppy as an added benefit for their workforce to make them feel valued and supported through life’s challenges. Peppy is working with clients across industries including legal and financial services, utilities, media and more.

Mridula Pore, CEO and Co-Founder of Peppy, commented: “As Founders we share two experiences that led to Peppy. We’ve all led businesses and seen the impact of these life transitions on our teams ; and we’re all parents, knowing first hand the stress and anxiety that comes with starting a family. Peppy began as a platform that would support new parents and help them return to the workforce, but there can be so many times in someone’s life when access to expert practitioners and support can make a dramatic impact.”

“Since we launched we’ve already expanded to support all parents with our postnatal services, menopausal services for mid-life women and have launched our Healthy Minds product to help staff manage stress and anxiety during the Covid-19 crisis. We will shortly be launching a fertility support service as well.”

Employers using Peppy are able to offer the platform to all employees, through which they can access everything from one-to-one chat support with an expert or a mental health practitioner; moderated group chats with peers in similar situations; online group exercises for postnatal women and those over 40; and bespoke support such as phone and video consultations for breastfeeding and baby sleep support, or with a menopause practitioner.

All experts provided to employees through the platform have completed accredited training programmes and meet the requirements of relevant professional bodies.

Kevin Chong, Co-Head of Outward VC, commented on the investment: “Globally, there is no shortage of technology startups seeking to help people better manage their money, overlooking the fact that health concerns related to critical life transitions, under-supported by public and private health systems, can be much more debilitating than financial stress, making us less effective in our daily lives and jobs. We are excited to back Peppy’s experienced team in their mission to help employers build and sustain a modern, diverse workforce.”

Carlos Espinal, Managing Partner of Seedcamp, added: “By supporting your employees through Peppy, companies not only add value, but strengthen the resilience of their workforce. The benefits of providing access to experts for challenging periods in your employees life will help your business longer term. You can appeal to top talent and boost the engagement and loyalty of your existing team.”

Funding will be used to expand Peppy’s team across tech, product, marketing and sales, and to launch new offerings, such as  fertility. Peppy is currently available to employees in the UK only.

Peppy was selected as one of only 18 projects to take part in Techforce19, an NHSX initiative to trial solutions to support vulnerable people during Covid-19. In partnership with NCT, the  UK’s largest charity for parents, and Lactation Consultants of Great Britain, Peppy has completed a two-week trial to support new and expectant parents. Peppy was also selected to join London & Partners Business Growth Programme in the newly announced Impact Cohort.

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