Malaysia’s digital employee health and wellness provider Naluri raises $5 M Series-B equity funding
The digital employee health and wellness provider Naluri Pte Ltd, based in Malaysia, announced on Tuesday that a $5 million Series-B equity fundraising round had been successfully completed.
In addition to current investors Sumitomo Corporation Equity Asia, M Venture Partners, and others, TELUS Global Ventures led this most recent round through the Pollinator Fund for Good, the strategic impact investment division of the industry-leading communications technology company, according to a statement from Naluri.
The total amount of $14 million in Series B funds raised, including previous tranches, is capped by this new capital infusion.
The money will go towards working capital to turn a profit within a year and further expansion into Asian markets, beginning with Vietnam and the Philippines.
“We are deeply honoured to have won the trust of our investors to scale this business model and reach the 1 million lives covered milestone,” said Azran Osman-Rani, Naluri’s Group Chief Executive Officer and Co-Founder.
“I’m extremely proud of my team who stood together through the macroeconomic storms of the past couple of years, batten down the hatches to deliver consistent positive unit economics in this period,
“We’ve emerged stronger and battle-hardened, ready for smarter market expansion,” he added.
Serving enterprise clients in the banking and insurance, energy and mining, telecommunications and technology, transport and logistics, professional services, and business process outsourcing (BPO) sectors, Naluri claimed the company has firmly established a leading position in the employee wellbeing markets in Indonesia and Malaysia.
By combining mental health, preventive behavioral health, and chronic disease management with health screenings and assessments, health promotion and engagement programs, multidisciplinary health coaching and consultation services, and round-the-clock crisis support lines, it gained a number of Pan-Asian and international clients and increased its footprint to Singapore and Thailand.
“Our investment in Naluri allows us to expand our footprint in Southeast Asia while also demonstrating TELUS’ strategic commitment to leading the evolution of workplace mental health solutions globally,
“Naluri’s comprehensive approach to employee wellbeing, combined with their innovative programs that integrate mental health, preventive behavioral health, and chronic disease management, positions them perfectly to address the growing demand for holistic health solutions in the workplace across Southeast Asian markets,” said Terry Doyle, Managing Partner at TELUS Global Ventures.
Alongside this investment, TELUS Health and Naluri have inked a business partnership agreement to provide services to their Employee Assistance Program clients in eight local markets.
TELUS’ dedication to promoting digital health innovation on a global scale through impact-driven capital and commercial scale is further demonstrated by this strategic investment.
TELUS Global Ventures’ investment through the Pollinator Fund for Good shows that quantifiable impact and commercial success can coexist.
