Tictrac is an insurance technology provider that has produced an advanced health and wellness app.





Software & Computer Services


March 2020



In 2020, Puma Private Equity deployed £5 million of equity into Tictrac, an insurance technology provider that has produced an advanced health and wellness app for insurance companies and corporate clients to provide to their user bases.

About Tictrac

With health and wellness being a key global trend, Tictrac is well positioned to provide an engaging tool for people to learn more about their health, drive new wellness habits and access relevant content. The app integrates data from wearable technology, delivering it to end-users in a digestible format to drive up levels of engagement and increase customer loyalty.

It has long-term relationships with an impressive client base that ranges from globally recognised insurance providers such as Aviva, Cigna, Allianz, Prudential, Generali Employee Benefits and Bupa Hong Kong, to government health bodies. In addition to its market-leading technology and innovative user content, the company has achieved significant growth through establishing strong relationships across the industry.

Created in 2010, its founders have assembled a high-quality management team to propel the business’s future growth. Having already gained a strong foothold in the industry, the company was in a good position to capitalise on these trends and establish itself as a leading provider of insurance technology.


In May 2022, Puma Private Equity completed an attractive exit of its stake in Tictrac, returning a 2x money multiple and 38% internal rate of return on its investment after just two years. The overall transaction is valued at up to £35 million.

The exit was realised following a bid by Dialogue Health Technologies Inc, Canada’s premier virtual healthcare and wellness platform, and is the largest acquisition in its history.


The funding has allowed us to bring this product to market and move to the next phase of our business.

Martin Blidner, CEO and Co-Founder, Tictrac


It’s been an exciting journey supporting Tictrac over the past two years. This type of business plays an increasingly important role in society, especially as companies focus more on how they support the health and wellbeing of their employees, something which has become even more relevant through the pandemic. We have been consistently impressed by Tictrac’s ability to heighten health and wellbeing engagement, which in turn will help alleviate some of the pressures our health services continue to face. “We’re pleased that Puma Private Equity has played a part in its growth, and that we have been able to realise a fantastic return for our investors within a relatively short space of time. We’re committed to helping businesses achieve their full potential – working in partnership with management to unlock growth – and Tictrac is a fantastic example of this. This deal provides a bigger home for the Tictrac solution, management and customers, and this should be the start of an exciting new journey with Dialogue. We wish them the very best of success.

Rupert West, Managing Director, Puma Private Equity