League collects $95m in Series C funding led by TDM

League, a Toronto-based healthcare platform technology company, has secured $95 million in a Series C financing.

League, a Toronto-based healthcare platform technology company, has secured $95 million in a Series C financing. The round, which brings total funding to more than $205 million, was led by TDM Growth Partners, with participation from Workday Ventures and existing investors, which include BDC Capital, Manulife, OMERS Ventures, Power Corp, RBC, Real Ventures and Telus Ventures. The funds raised will support scaling of League’s platform-as-a-service offering, Health OSTM.

PRESS RELEASE

League Raises $95 Million USD in Series C to Build World’s Leading Health OS™ Platform

February 01, 2022

TORONTO & CHICAGO–(BUSINESS WIRE)–League, the leader in healthcare platform technology, today announced that TDM Growth Partners, a global platform investor, led their $95 million USD round, with participation from Workday Ventures and existing investors. The new financing will support League in scaling its platform-as-a-service (PaaS) offering, Health OSTM, positioning it as the leading digital infrastructure for an integrated health ecosystem. The company’s total funding to date is now over $205 million USD.

“Time and time again, point solutions inevitably give way to platforms that accelerate innovation and time-to-market while enabling interoperability and economies of scale,” said Michael Serbinis, founder and CEO of League. “In healthcare, League is that platform. With the support of leading platform investors, League’s PaaS offering is positioned as the de facto digital infrastructure to build comprehensive healthcare consumer experiences. Providers, payers, consumer health partners and employers use League’s platform to build unique and differentiated applications that transform healthcare from a patchwork of disparate point solutions to a cohesive experience that just works.”

With hundreds of customers that include organizations such as Humana, Shopify and Shoppers Drug Mart, League’s Health OS™ empowers stakeholders in the continuum of care to build and deploy the next generation of healthcare applications with a secure, reliable and interoperable foundation. The platform is built on the Fast Healthcare Interoperability Resources (FHIR) standard and leverages the Google Cloud Platform (GCP) Healthcare API to enable the “front door” to healthcare for millions of consumers. It will harness data from electronic health records (EHRs), claims, health and wellness devices and third-party partners to deliver deeply personalized digital health experiences and create a cohesive, omnichannel experience for the consumer.

“We are proud to play a role in League’s vision for the future of healthcare and the transformation of care delivery,” said Jess Bell-Allen at TDM Growth Partners. “We appreciate and understand the scaling journey of pre-IPO companies and what it takes to transition them successfully to the public markets. We recently saw this with Allbirds and hope to use our learnings from previous investments in platform companies like Square, Twilio and Slack to now support League and their long-term growth ambitions.”

The digital transformation in healthcare has moved at an accelerated pace in recent years as the industry works to solve siloed data and a lack of interoperability across the continuum of care. “Consumerization” has affected nearly every industry as consumers raise expectations for convenience and expeditious services, but healthcare has yet to fully prioritize the consumer experience. A platform-based healthcare system would eliminate many of the silos across data systems with health networks, payers, consumer health partners and employers, encouraging a flow of information that directly improves health outcomes and overall population health.

​​“The digital transformation of the healthcare consumer experience will benefit employers by helping to ensure employees quickly get the services and support that they need,” said Mark Peek, managing director and head of Workday Ventures. “We continue to invest in League to support our customers in enhancing their employee experience so that their workforce feels supported in managing their health and wellbeing, which in turn helps them do their best work.”

About League

Founded in 2014, League is a platform technology company powering next-generation healthcare consumer experiences. Payers, providers, consumer health partners and employers build on League’s Health OS™ platform to deliver high-engagement, personalized healthcare experiences consumers love. Millions of people use solutions powered by League to access, navigate and pay for care.

About TDM Growth Partners

TDM Growth Partners is a global investment firm with offices currently in Sydney and New York. TDM invests in fast growing companies run by passionate management teams. Our unique and flexible mandate allows us to invest in public and private companies globally. TDM operates on long-term time horizons, and a commitment to help build businesses we’re proud of. We have a highly focused approach to investing, with a portfolio of no more than 15 investments globally. TDM has the ability to deploy capital up to $250 million per investment. More information at www.tdmgrowthpartners.com.