Virgo Commits $18 Million to Peerfit, a Digital Health Platform That is Redefining Wellness at Work
TAMPA, Fla., March 19, 2019 -- Peerfit, the leading digital health company working with employers to fully fund fitness experiences for their employees, announced today an $18 million commitment from Virgo Investment Group, opening their Series C funding round.
In addition to the raise, Peerfit welcomes Virgo Investment Group Managing Director, Pooja Goel, as a member of its board of directors. Goel joins the board with a large focus on Peerfit's Medicare expansion product, Peerfit Move.
Goel has more than two decades of experience in the healthcare services delivery sector. With Virgo, Goel oversees healthcare investments, providing growth capital solutions to support founder-run companies. Prior to Virgo, Goel was at Landmark Health as the General Manager for New Business and spent over ten years at DaVita Inc.
"Peerfit has identified a unique need in the employer wellness and Medicare space, building an offering that appeals to employees, seniors, employers, and health plans," said Virgo Managing Director and Healthcare Practice Lead, Pooja Goel. "Peerfit's culture immediately aligned with ours and they share a similar belief in raising reputational capital; creating a partnership where we can disrupt and innovate. We are proud to partner with Peerfit and look forward to supporting their growth in every way possible."
This investment will help Peerfit continue to expand its core brand, reach more employers and their employees, and will also help with its expansion into the Medicare Advantage space with Peerfit Move.
"We couldn't be more pleased to be partnering with Virgo and to be welcoming our first female to the board," said Ed Buckley, III, Ph.D., Peerfit Chairman and CEO. "Pooja is going to be such an asset and we look forward to learning from her insight and experience, especially as we continue to evolve and move Peerfit into the Medicare Advantage space. The whole Virgo team has been seamless to work with and we are excited to see where this partnership takes us."
The transaction was sourced by Virgo Operating Partner, John Miles.
About Virgo Investment Group
Founded in 2009, Virgo is a thematic investor with the mission of building meaningful businesses. Virgo partners with Founder-led or Family-owned businesses where both existing owners and management have a material equity stake in the business. Virgo targets companies undergoing industry or company-specific change, which are executing on an identified inflection point in value. Virgo has flexible capital that allows the Firm to provide differentiated solutions. Virgo is an actively engaged investor, driving value-add initiatives post-investment via a focus on human capital transformation, business process enhancement and technology implementation through the Firm's Spica Alpha Unit. The Firm has invested over $1.1 billion, completing 54 investments to date.
Peerfit is the market leader in connecting employers and carriers with personalized fitness experiences. Through their digital platform, insurance carriers, brokers and employers can redefine their benefits programs by giving employees access to a network of fitness studios and gyms – offering a variety of classes that cater to all levels of fitness – using workplace wellness dollars. Peerfit also empowers consumers to access flexible fitness experiences that fit their needs and interests all through one easy-to-use digital dashboard. For more information, visit peerfit.com.