MyLifeWell

Raising $500k for the one-stop B2B wellness lifestyle platform. Recognized as the “Top Emerging Employee Wellness Company of the Year” by HR Tech Outlook.

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MyLifeWell: An award winning B2B wellness platform

The Problem:
The $4.3 trillion health and wellness industry is completely fragmented with current solutions addressing only one or two aspects of the client’s overall wellness needs, leading to - 1) Higher cost of subscribing to multiple platforms / vendors to complete the wellness journey, 2) Broken client journey with logins and goals spread across multiple platforms and 3) Lower engagement due to the broken client journey.

Also, with mental and social wellness issues coming to the surface, remote work / WFH becoming the new norm and record number of people quitting jobs, there has been a surge in demand for – 1) holistic, 2) scalable, 3) community-based, and 4) incentive-based health and wellness solutions.

MyLifeWell is the first platform integrating different areas of wellness in one seamless platform to streamline an employee's end to end wellness journey.

Generating Revenue: We have already signed 5 B2B clients including names like National Association of Realtors and the City of Mesquite. Most of them have signed 2 year contracts.

Website: 
1) https://www.mylifewell.com/
2) https://business.mylifewell.com/

Product Overview:
We have built the first one stop wellness platform by focusing on 3 core pillars:
  • Live Well: An all-in-one wellness app bringing all dimensions of wellness across physical, mental, emotional and social wellness in one seamless platform
  • Travel Well: A wellness travel platform for users to find and book wellness vacations to enhance their wellness lifestyle (yoga retreats, spa vacations, biking tours and so on) 
  • Shop Well: A wellness e-commerce platform for users to shop and buy wellness courses, products and coaching packages
Business Model and Strategy:
1) Subscription model: We are targeting B2B clients for employee wellness programs with an average subscription fee in the range of $3 - $4 per employee per month.
2) Commission model: We then upsell wellness travel and wellness products / courses to our members. The commission on wellness travel packages ranges from 12% - 15% whereas the commission on products and courses is around 30% 

Market size:
1) The global corporate wellness industry is valued at $58bn and is expected to grow at a CAGR of 9.5% from 2021 to 2030. North America is the largest market, accounting for 1/3rd of the global market, owing to the increasing cases of chronic health issues and mental health problems in the region.
2) The wellness travel industry stands at an astounding $800bn worldwide, accounting for 10% of over travel industry and is growing at 2x the pace of the normal travel industry. An average American traveler tends to spend 178% more ($1,139/trip) on wellness travel as compared to normal travel. 

Competitive Analysis:
There are multiple competitors in individual areas of wellness however we are the only platform within the integrated wellness space.  

Traction:

1) We have been recognized as the "Top Emerging Employee Wellness Company for 2022" by HR Tech Outlook, one of the leading publication within the HR Tech space
https://employee-wellness.hrtechoutlook.com/vendor/mylifewell-embark-on-an-endtoend-wellness-journey-cid-2435-mid-217.html
2) We have secured a pilot with the SigEp Fraternity house in 2023. 
3) Confirmed partnership with Dexa Body to be their wellness platform partner for promoting the platform to over 50,000 + employees across their client base
4) In discussion with Bronson Help Net to be their wellness platform partner for promoting the platform to their 260+ client companies across the U.S
5) Partnered with multiple wellness resorts and retreats around the world including brand names like Canyon Ranch, Radisson hotels and Melia Punta Cana.

Team:
Gaurav Goomer
Founder & CEO
Gaurav Goomer has 15+ years of experience across business, finance and IT. Prior to launching MyLifeWell, Goomer worked at the Kellogg Company as the Sr. Manager IT, reportedly managing $50M across multiple IT Business projects. Before Kellogg’s, he played a key role in launching and growing the Huper Optik brand in India. Goomer is a certified accountant, has an MBA in International Business and a Master’s in Business Analytics. He is also trained to be a Product Manager and a Scrum Master. Goomer believes his strength lies in his deep understanding of holistic wellness lifestyle combined with his experience in business and technology.

Doug Grosso
Chief Corporate Wellness Architect
Doug Grosso has 25+ years of experience in designing corporate wellness programs. He has worked with multiple companies across several industries and has helped them create and launch highly effective corporate wellness programs. Prior to joining MyLifeWell, Grosso successfully ran his own corporate wellness company for 20+ years and brings a lot of expertise in starting a corporate wellness company from ground up.

Liana Buenaventura
Fractional Chief Marketing Officer
Liana Buenaventura has 20+ years of experience in designing brand-building strategies and implementing end-to-end digital marketing campaigns. She has a personal passion for health and wellness and has worked with several health and wellness brands in the past as the Sr. Account Director at a reputed digital marketing agency.

Advisors:
Gurinder Kaur (Technology Advisor)
•Ex- North America CIO, Coca Cola
• Ex – VP of Information Technology at Kellogg

Bill Greer (Corporate Wellness Advisor)
•Retired HR leader with 30+ years experience.
•Ex- Managing Director of Total Rewards at Blue Cross Blue Shield Association.

Funding Ask:
Raised $1.25M till date. We are seeking $500k investment:
  • 60% for expanding the sales and marketing efforts to grow the business
  • 40% for daily operations, wages and platform development and maintenance.

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