The CareVoice Completes Nearly $10 Million Series B Funding

The CareVoice, the leading global embedded health enabler for insurers, announces successful completion of its Series B funding, raising a total of nearly $10 million, in a round led by Apis Insurtech Fund I (the “Fund”).

This funding will be instrumental in accelerating the Company’s growth, expanding collaborations with insurers across regions, and investing in the next generation of the CareVoiceOS platform.

The Fund is managed by Apis Partners LLP (“Apis”), a UK-based asset manager known for its commitment to, and success in generating, both financial returns and positive social impact.

The team at Apis utilises its sector expertise to lead value creation initiatives at its portfolio companies, enhancing the lives of millions of people served by these businesses.

Since the Fund’s first investment in CareVoice in 2019, Apis’ team has contributed to several areas of expansion and development at the Company.

These efforts include supporting business development activities to attract enterprise customers, leveraging Apis’ network in the insurance industry, and engaging stakeholders to facilitate these partnerships.

Apis’ investment philosophy aligns with the Company’s mission to revolutionize the way insurers engage with their customers for a healthier life.

Together, CareVoice and Apis will work to deliver personalized, data-driven health and wellness solutions to insurance customers worldwide.

Over the past two years, CareVoice has achieved significant milestones and solidified its position as a global leader in embedded health solutions.

The Company has expanded and formed new major collaborations with insurers, serving millions of customers across more than 15 countries worldwide.

Additionally, the Company has established strategic partnerships with global players, including reinsurers and digital distribution enablers, to enhance its capabilities and jointly serve insurers.

CareVoice has demonstrated strong unit economics and maintained cash-flow neutrality over the past 18 months. The Company experienced a remarkable doubling of revenues in 2023 compared to the previous year.

Investing in Innovation: Next Generation CareVoiceOS Platform

The new funding will enable CareVoice to accelerate its growth trajectory further and drive innovation in its CareVoiceOS platform. The platform’s next generation will enhance scalability, reduce implementation costs, and empower insurers to implement or upgrade customer solutions seamlessly. The recent release of the CareEngage framework has demonstrated increased customer engagement and perceived value among end-users.

Accelerating Growth with Strengthened Leadership Team

To support its expansion plans, CareVoice has established a European headquarters in Luxembourg. Concurrently, the Company has strengthened its leadership team with the appointment of Simon Guest as Chief Commercial Officer and will leverage his industry experience at Generali Vitality and AXA to accelerate CareVoice’s global growth and forge transformative collaborations with insurers worldwide. Additionally, Jan Velich, one of its co-founders, has taken a new role as Chief Experience Officer, leading the expansion of CareVoice reach and impact with its existing major clients. These strategic moves further fuel the Company’s mission to unlock the next growth frontier for the life and health insurance industry by adopting embedded health solutions at global scale.

Sebastien Gaudin, CEO and Co-founder of CareVoice, said:

“We are collaborating with two types of insurers, those early movers in the health and wellness space who are already aware of the gaps in their capabilities, and new entrants who want to accelerate, avoiding the pitfalls and challenges other insurers have faced. Both types are looking to generate additional profitable insurance business directly and through attracting and retaining healthier customer profiles. We see an exciting future development of this partnership approach which delivers mutual growth.”

CareVoice’s achievements and ongoing growth reflect the increasing demand for embedded health solutions and its potential to transform the insurance industry.

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