Early stage investment firm Antler Australia recently supported 13 startups as part of its ongoing program to build great local tech companies. For six weeks, Startup Daily will share the details of each venture in the “Antler Investor Memos” series.
You can also meet the founders every Monday and Wednesday on the Startup Daily show at ausbiz.com.au.
This series is designed to give you a fast, a keen understanding of the startups and people involved, with many looking for follow-on capital after Antler’s initial pre-seed investment.
Date of incorporation: 2022
Operating phase: Preseed
founders: Julie Bouissin and Andres Bernal
Current investors: antlers
Currently increasing: Yes
Description of the company
Most workplace wellness programs have limited participation. wellbase calls for a wellness revolution with its all-in-one platform that empowers employees to select personalized activities and build healthy habits.
Wellbase operates through a subscription model for organizations that unlock access to wellness services for employees and allocate them Wellcoin: to spend on their personalized Wellbase activities.
By encouraging employees to build a personalized holistic wellness practice, Wellbase will increase access to employee wellness journeys that enhance lives, workplace cultures and careers.
Antler investment thesis
“The pandemic has changed the way we all work, making employee retention and engagement more important than ever. Wellbase takes a unique, employee-centric and hyper-personalized approach to employee wellbeing with powerful customer benefits,” said Cath Rogers, Partner of Antler Australia.
“Wellbase eschews the consumer-centric inventory model of other wellness players in the space in favor of a B2B offering that empowers employees to take control of their wellness program by finding the approach that works best for them. This encourages long-term involvement and ultimately helps employees to live healthier lives.”
Traction/milestones, so far
Building out Wellbase’s first product offering, it captured the interest of five customers, including MLC, Liverpool partners and Drive Yello.
The beta of Wellbase’s product launch in the coming months.
Due Diligence Resources
Explore Wellbase’s pitch video and investor deck via The Antler Portfolio Disclosure Platform.
Pre-Seed from Antler
Use of funds
Antler Australia’s initial investment in Wellbase has supported workforce growth to accelerate the construction of Wellbase’s platform and its in-platform currency, Wellcoin. Furthermore, it has supported the expansion of its marketing function with a dedicated employee to lead its go-to-market strategy.
The founders say:
“Since embarking on our journey, we have been incredibly fortunate to have been supported by a network of leaders we have worked with in the past to help us occasionally tilt and validate our model to determine the suitability of the product market, and this is very exciting,” said Julie Bouissin, Wellbase co-founder and CEO.
“Antler has given us access to a variety of resources, mentors and points of view that challenged and reinforced our belief in turning an idea into a VC-backable business as well.
“We believe the most effective first step to making wellness more accessible at scale is through workplaces. So that’s where we start. But our north star vision is wild; we strive to create the next generation of wellness currency and payment technology to open up the world of wellness. From meditation coaching to HIIT training, surf lessons and sexual wellness purchases, just to name a few.
“Well-being is the foundation of a clear and focused mind, resilient mental health and high performance at work. It is also the basis for a joyful, grateful and meaningful life. We are bringing the workplace and wellbeing closer than ever.
Antler, an early stage global VC, recently showcased its latest investments in ambitious Australian founders and startups. Wellbase was one of Antler Australia’s newest portfolio companies.
Find out how Wellbase is unleashing a wellness revolution through the Antlers Portfolio Reveal Platform.
StartupDaily is Antler’s official media partner in Australia.