Jiff wants to revolutionize the “one-size-fits-all” approach to employer healthcare benefits.
The Palo Alto company, whose board includes entrepreneur Stan Chudnovsky and Jiff co-founder James Currier, is using wearables to gamify employee health progress with personalized incentives. To date, Jiff has raised nearly $26 million.
Jiff’s enterprise health benefits platform saves employers money by organizing and curating relevant vendors for each employee. The program allows employees to choose what wearables (FitBit, JawBone, Apple Watch) will suit their lifestyles, all of which can be purchased through Jiff’s online store. Jiff then gives employees incentives to use those wearables on a regular basis. If employees meet their goals, they receive rewards like vouchers and credit toward healthcare costs.
Not only does Jiff customize its platform for each company it works with, but each company can customize rewards for employees. For instance, the incentives given to an employee with diabetes may look nothing like those assigned to a non-diabetic. “All employees are different, so incentives should be, too — and Jiff is the only platform that allows employee-level personalization,” said Bryan Roberts of Venrock, the venture capital firm that led Jiff’s Series B fundraising round.
Right now, over 300,000 employees have access Jiff’s services. Jiff CEO Derek Newell recently told Fortune that workforce adoption rates range from 50 to 80 percent. Companies that currently use Jiff include Activision Blizzard, Henry Schien, Red Bull and Qualcomm.
Let’s hope that healthy employees are happy employees. After all, happy employees are productive to boot.