Exited
Tictrac
Tictrac is an insurance technology provider that has produced an advanced health and wellness app.
£5m
TOTAL INVESTMENT
London
LOCATION
Software & Computer Services
SECTOR
March 2020
INITIAL DEAL
Overview
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.
Exit
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.
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