Our investment in YuLife

We’re very proud to continue to back YuLife — this time from our Latitude fund — as they raise $70m at Series B, led by Target Global.

We led the seed round from LocalGlobe in 2017, and followed on in the A led by Creandum.

YuLife is a wellbeing life insurance company. It rewards members for living well now, through diet and exercise, while protecting members families for the future.

When we backed the Founders at seed this was the vision they wanted to bring to life: to inspire life and turn financial products into a force for good.

Sammy Rubin, CEO and Sam Fromson, COO are a fantastic visionary and operational duo. Sammy is the ex-CEO of Vitality Life and both are rabbis as well as being surrounded by an exceptional team.

Life insurance is an enormous $2.2 trillion global market with huge incumbents focusing solely on paying out a lump sum on death.

YuLife have built a really innovative life insurance product combining the best of behavioural science, artificial intelligence and gamification, encouraging healthy behaviours.

By engaging in healthy activities like exercise, walking or meditation, members earn virtual YuCoins — or what YuLife call the “currency of wellbeing”. These can be exchanged for real-life rewards like Amazon vouchers.

What most excites us about YuLife is the phenomenal levels of engagement with members. Even at seed round, their app demonstrated exceptional engagement metrics unseen in other insurance products.

In the long term, YuLife’s assessment of mortality risk will be based on real-time, dynamic and historic data, rather than just traditional factors, such as age or smoking habits, still used by incumbents.

It’s an exciting category as employer health benefits are the top most valued employee benefit and COVID encouraged companies to double down on fostering employee physical and mental wellbeing, and seek out good solutions.

Last year YuLife’s growth engine really kicked in, and the team started to win competitive processes with blue chip customers such as Sodexo, Co-op and Tesco. Consequently Gross Written Premiums are now 10x what they were at the start of 2020.

We’re very excited to continue the journey with YuLife alongside Target Global, Eurazeo, Creandum, MMC Ventures, Notion Capital, and Anthemis.

And now for the best founder picture of all time!