KUALA LUMPUR (Jan 10): RHL Ventures, a multi-family private equity firm that invests in early-stage and growth-stage start-ups across Southeast Asia, has participated in the seed round of HealthMetrics, a cloud-based enterprise human resource solution provider.
The investment amount was not disclosed.
“HealthMetrics has developed an intuitive platform to cater to a severely overlooked sector of corporate management; empowering companies to streamline the opaque costs and processes typically associated with claims management,” said Rachel Lau, managing partner at RHL Ventures, in a joint statement today.
“The company’s stellar growth over the past year demonstrated its ability to tap into this underserved market segment, and we are excited to support their journey to extend its solution across Malaysia and beyond,” she added.
"After achieving a fourfold growth in 2018, HealthMetrics is now on track to support over 1,500 companies in Malaysia and 3,000 companies in Southeast Asia by 2022," said RHL Ventures and HealthMetrics.
"Over the past year, the company has doubled the size of its team, is now working with over 360 companies in Malaysia and aims to achieve an employee user base of around 100,000 by the end of January 2019," they added.
Founded in 2015 by Alvin Yuan and Advent Phang, HealthMetrics’ core solution is centred around healthcare benefits – acting as an automated platform for companies to manage their employee health benefits with better cost and productive efficiency.
“While we have plans to extend our footprint across the region, we still see a lot of space to grow in Malaysia. RHL has been extremely supportive; advising us on the right strategies to approach the right investors and backers to help with our growth," said Yuan.
"As such, we are now better-positioned to build an extensive network of healthcare suppliers to cater to more companies in not only Kuala Lumpur, but also in strategic cities such as Penang, Johor and Melaka,” he added.
Founded in 2016 by Lionel Leong, the son of Mah Sing Group Bhd group managing director and founder Tan Sri Leong Hoy Kum, Raja Hamzah Abidin, the son of former federal territories and urban well-being minister Datuk Seri Utama Raja Nong Chik Zainal Abidin, and Lau, the daughter of the late Lau Boon Ann, who was a non-executive director of Top Glove Corp Bhd, RHL Ventures is currently led by Lau, Raja Hamzah and Jo Jo Kong.