Early stage investment company Antler Australia recently backed 13 startups as part of its ongoing program to build great local tech companies. Over six weeks, Startup Daily will share the details of each venture in the “Antler Investor Memos” series.
You can also meet the founders on the Startup Daily show on ausbiz.com.au every Monday and Wednesday.
This series is designed to give you a quick, sharp understanding of the startups and people involved, with many seeking follow up capital following Antler’s initial pre-seed investment.
Company: Wellbase
Formation date: 2022
Stage of business: Pre-Seed
Founders: Julie Bouissin and Andres Bernal
Current investors: Antler
Currently raising: Yes
Description of business
Most workplace wellbeing programs have limited participation. Wellbase is calling for a wellness revolution with its all-in-one platform empowering employees to select personalised activities and build healthy habits.
Wellbase operates via a subscription model for organisations unlocking access to wellness services for employees and allocating them Wellcoin: to spend on their personalised Wellbase activities.
By encouraging employees to curate a personalised holistic wellness practice, Wellbase will increase access to employee wellness journeys that elevate lives, workplace cultures and careers.
Antler investment thesis
“The pandemic has shifted the way we all work, making employee retention and engagement more critical than ever. Wellbase takes a unique, employee-centric and hyper-personalised approach to employee wellness with powerful flow on benefits for clients,” said Cath Rogers, Partner of Antler Australia.
“Wellbase eschews the consumer-focused inventory model of other wellness players in the space in favour of a B2B offering that empowers employees to take control of their wellness program by finding the approach that works best for them. This drives long-term engagement, and ultimately helps employees to lead healthier lives.”
Traction/milestones, to date
While building Wellbase’s initial product offering, it secured interest from five customers including MLC, Liverpool partners and Drive Yello.
The beta version of Wellbase’s product launching in coming months.
Due diligence resources
Explore Wellbase’s pitch video and investor deck via The Antler Portfolio Reveal Platform.
Latest funding
Pre-Seed from Antler
Use of funds
Antler Australia’s initial investment in Wellbase has supported growth in headcount to fast-track the build of Wellbase’s platform and its in-platform currency, Wellcoin. Further, it has supported the expansion of its marketing function with a dedicated hire to lead its go-to-market strategy.
The founders say
“Since we started our journey, we’ve been incredibly fortunate to be supported by a network of leaders we worked with in the past to helps us pivot our model at times and validate to find product market fit, and this is very exciting,” said Julie Bouissin, co-founder and CEO of Wellbase.
“Antler has given us access to a variety of resources, mentors and points of view that challenged us and strengthened our conviction to transform an idea into a VC-backable business as well.
“We believe the most effective first step in making wellness more accessible at scale, is through workplaces. So, we’re starting there. But our north star vision is wild; we aim to create the next generation wellbeing currency and payment technology to open the world of wellness. From meditation coaching to HIIT training, surfing lessons and sexual wellness purchases, to name a few.
“Wellbeing is the foundation of a clear and focused mind, resilient mental health and high performance at work. It’s also the basis for a joyful, rewarding and meaningful life. We are bringing the workplace and wellbeing closer than ever.
What’s next?
Antler, a global early-stage VC, recently showcased the latest investments it’s made in ambitious Australian founders and startups. Wellbase featured as one of Antler Australia’s newest portfolio companies.
Explore how Wellbase is igniting a wellness revolution via the Antler Portfolio Reveal Platform.
StartupDaily is the official media partner of Antler in Australia.
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