Why Outward Ventures invested in Peppy

About Outward Ventures

Outward VC empower start-ups seeking to be the most important fintech companies in the world

• London, England, United Kingdom
• 1-10
• Venture Capital
• Early Stage Venture, Seed
• www.outwardvc.com/

About Peppy

Peppy is leading digital platform that helps employers give their people expert support for under-served areas of healthcare.

• London, England, United Kingdom
• 251-500
• Series B
• Private
• www.peppy.health

Our Investment in Peppy

The Growing Need for Holistic Employee Wellbeing

As a fund, we have met countless technology start-ups seeking to help people better manage their money. Financial stress, as the thesis usually goes, stops us from being effective in our daily lives and jobs

While this is true and employers have been partnering with technology start-ups to address this problem, we are reaching saturation point in personal financial management technology.

At the same time, employers are increasingly aware that looking after the non-financial wellbeing of employees and their families is critical in building a modern, diverse workforce.

Peppy’s Innovative Approach to Employee Health

Peppy’s all-digital platform enables employers to provide employees with on-demand, accredited expert support through critical life transitions – women’s health, family health and mental health – that public healthcare services were not designed for and where only the lucky few can afford private help.

However, these issues affect all of us and the impact on workforce productivity is clear and measurable. Through Peppy, employers have a transformative solution that is designed for the workforce of the future.

We were introduced to Peppy by a mutual contact in February. It was after we decided to invest (it was a quick decision!) that Covid-19 unimaginably disrupted the world.

Now, three months into lockdown, it is even clearer that our health is our biggest priority and how we access health support needs urgent and permanent transformation.

The Strength of Peppy’s Team

Once we were convinced about the market opportunity, we turned our focus to the team.

The Peppy team have all lived the problem and bring a range of deep commercial and technical experience and, importantly, we could see the three founders –Evan, Max and Mridula – support and complement each other operationally and strategically.

It says a lot about the team that, in the midst of a global economic shutdown, they have managed to simultaneously complete a funding round, advance commercial negotiations with a global financial services client and apply for (and win out of 1,600 applications!)

NHS funding to pilot a digital solution to support new parents across the UK during Covid-19.

Conclusion

We are excited to have the opportunity to support Peppy and look forward to working with the team to build a new category leader.

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