Betterfly (ACQUIRED)

What Betterfly (ACQUIRED) does

Betterfly is a B2B SaaS platform that integrates voluntary insurance coverage (group life, individual life, critical illness, accident, and hospital indemnity) with daily health engagement, biomarker-driven risk insights, and a rewards marketplace in a single operating system. Founded in 2018 by Eduardo della Maggiora and headquartered in Chile, the company sells guaranteed-issue voluntary insurance paired with preventive services — including 68-biomarker health snapshots, biological-age assessment, physician consultation, and an AI-driven risk engine that personalizes missions, challenges, and rewards for employees. The platform is monetized via per-employer subscriptions configured to company size and coverage scope, supplemented by insurance-carrier commissions shared with broker partners, with quote-based enterprise pricing and annual billing cadence.

The go-to-market is hybrid and channel-enabled: direct enterprise field sales targeting HR and benefits decision-makers are paired with an insurance broker portal that handles quoting, enrollment monitoring, commission tracking, and co-marketing. Betterfly reports 2,000-3,000 enterprise clients and 1M+ end users, with named customers including Kraft Heinz, BHP, Nestlé, Sodexo, Rappi, and Krispy Kreme. It operates localized legal entities in Chile, Mexico, Spain, and Brazil (via partner Icatu Seguros), holds ISO 9001, ISO 14001, and ISO 27001 certifications, and is a Certified B Corporation with GDPR, LGPD, and CCPA compliance. Active expansion is underway into the U.S. market, complemented by regional product extensions such as Spain's flexible-compensation suite and Mexico's NOM-035 psychosocial risk measurement tool. The company is flagged as ACQUIRED in the source data, though no acquirer or transaction details were disclosed.

Name

Betterfly (ACQUIRED)

Legal name

Betterfly España SLU

Website

https://betterfly.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Betterfly is a B2B SaaS platform combining voluntary insurance (life, critical illness, accident, hospital indemnity) with daily AI-driven health engagement and rewards, sold to enterprise employers and insurance brokers across Latin America, Europe, and the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. B2B2C Insurance and Wellness Subscription: Betterfly charges employers a subscription fee for access to the platform, insurance products, and wellness features. Employers configure benefit offerings and employees select coverage that fits their lives. Revenue is derived from insurance premiums and platform fees passed through or bundled with coverage.
2. Broker Commissions: Insurance brokers earn commissions through the Betterfly Broker Portal for placing coverage with employer clients. Betterfly generates revenue from insurance carrier commissions shared with broker partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Betterfly is an AI-powered health and insurance operating system that combines voluntary insurance coverage with daily health engagement in a unified SaaS platform. It serves enterprise employers and insurance brokers by offering guaranteed-issue life insurance, a 68-biomarker health snapshot with AI-driven risk detection, and gamified engagement mechanics that convert healthy daily habits into social impact contributions and incremental insurance coverage.

Product overview

Betterfly is an AI-powered health and insurance operating system combining voluntary insurance coverage with daily health engagement in a unified SaaS platform. The product portfolio centers on the Betterfly Platform (SaaS) and Betterfly App as core offerings, supplemented by three integrated modules: Protect (guaranteed-issue insurance including life, critical illness, accident, and hospital indemnity), Prevent (68+ biomarker health assessments with AI-driven risk detection and personalized health roadmaps), and Engage (gamification mechanics with daily missions, challenges, and a rewards marketplace). For the Spanish market, Betterfly offers Retribución Flexible (flexible compensation) including restaurant cards, transport cards, training plans, childcare vouchers, and health insurance. The Betterfly Broker Portal serves insurance distribution partners. The platform operates across Latin America, Europe, and the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Betterfly Platform Unified SaaS platform combining voluntary insurance coverage with gamified daily health engagement for enterprise employees. Sold to HR departments and benefits teams as an employer-branded experience.
• Betterfly Mobile App Mobile application used by employees (end users) to log daily healthy habits, complete biomarker health snapshots, view coverage, and redeem rewards.
• Betterfly Broker Portal Portal for insurance brokers and intermediaries to quote, distribute, and manage Betterfly voluntary insurance products for their employer clients.
• Betterfly Marketplace In-app rewards marketplace allowing users to redeem engagement points for gift cards, partner offers, and lifestyle rewards.
• Retribución Flexible (Flexible Compensation) Flexible compensation product tailored for the Spanish market, packaged as part of Betterfly's employer benefits offering in Spain.

Quantifiable outcome

• 86% of employees value the Betterfly experience in their first 30 days
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability9 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Icatu SeguroscoreStrategic or Co-development Partner · 1 January 2022Partnership with Icatu Seguros (Brazilian insurance company) to launch Betterfly's operations in Brazil. The partnership includes social impact initiatives such as distributing 1,000 water filters to vulnerable Brazilian families through the WATERisLIFE project. Icatu provides the dynamic life insurance underlying Betterfly's coverage offerings.
• WATERisLIFEcoreStrategic or Co-development PartnerInternational nonprofit humanitarian organization working to bring clean water to vulnerable communities in 50+ countries. Betterfly users convert healthy habits into donations (BetterCoins) that fund WATERisLIFE water filter donations. Partnership active since Betterfly's founding in 2018, supporting projects in Kenya, Ghana, Chile, and Brazil.
• ConectenminorChannel Partner/ Reseller/ DistributorConecten acts as an intermediary in the acquisition of discount and gift cards (tarjetas) for the Betterfly Marketplace. Conecten sources gift cards from third-party issuers and distributes them through the Betterfly platform.

Scale indicators9 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Personify Health (formerly Virgin Pulse): Personify Health is one of the largest employee wellbeing and health engagement platforms, combining wellness programs with benefits navigation for employers. It directly competes with Betterfly in driving daily engagement, biometric screenings, and benefits utilization across global enterprise workforces.
• Wellhub (formerly Gympass): Wellhub is a corporate wellness platform giving employees access to gyms, wellness apps, and on-demand classes through employer subscriptions. Like Betterfly, it uses gamified, app-based engagement to drive healthy behavior and is sold to HR teams through enterprise sales and broker channels.
• Vitality Group: Vitality partners with insurers and employers to offer wellness-incentivized life and health insurance products where policyholders earn rewards for healthy behavior. It is the closest conceptual analog to Betterfly's combined insurance-wellness-rewards architecture.
• Limeade: Limeade is an employee experience platform focused on wellbeing, engagement, and inclusion for mid-market and enterprise employers. It competes with Betterfly's engagement and analytics layer for HR buyers seeking measurable engagement ROI.

Emerging players

• Headspace for Work: Headspace offers a mental health and mindfulness app distributed via employer benefits packages. It overlaps with Betterfly's daily missions and rewards offering and is often positioned in the same benefits stack.
• Spring Health: Spring Health provides employer-sponsored mental health benefits with personalized care recommendations and measurable outcomes. It competes for the same HR budget and broker relationships that Betterfly targets for its preventive health module.
• Modern Health: Modern Health is a global mental health platform sold to employers that combines coaching, therapy, and self-guided content. It overlaps with Betterfly's preventive health and biomarker-driven personalization approach.
• Thrive Global: Thrive Global sells enterprise wellbeing, productivity, and behavior-change programs to large employers. Its mission-driven engagement mechanics are conceptually adjacent to Betterfly's gamified daily-action framework.

Broad incumbents

• John Hancock Vitality: John Hancock Vitality is an established US life insurer offering wellness-incentivized policies with activity-based rewards. It represents the scaled incumbent version of Betterfly's insurance-plus-wellness model in the US market.

Others

• AIA Vitality: AIA Vitality is a pan-Asian insurer's wellness and rewards program integrated into life and health policies. It is a large incumbent analog to Betterfly's insurance-wellness bundling model, particularly relevant as Betterfly considers further geographic expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/betterfly
• Xx.com/betterfly
• Facebookfacebook.com/TakeLessons

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Betterfly (ACQUIRED)