The business intends to release an Arabic version of its app in the second half of 2023 and will be incorporating Multiply’s HealthierU marketplace into its platform.
Dubai founded As part of its goals for worldwide expansion, LVL Wellbeing raised $10 million in a series A fundraising round, which it will utilize to expand its offerings and attract additional clients in the GCC.
LVL stated in a statement on Wednesday that the investment, which was spearheaded by MG Wellness Holding, a division of the technology-focused holding firm Multiply Group in Abu Dhabi, will be used to launch preparations to enter Saudi Arabia as part of a worldwide expansion strategy.
Additionally, it will make it easier for LVL to include Multiply’s HealthierU platform, an online marketplace that links consumers with certified advisers from wellness centers and clinics throughout the UAE and the rest of the world via cutting-edge telemedicine, into LVL’s operations.
Chief executive Gary Blowers stated in the statement that further features, such as an Arabic version of the LVL app, are in the works and will be released in the second half of 2023.
He continued, “To help our members prioritise their wellbeing whether at home, at work, or on the road, we will also be investing more in creating unique, totally immersive experiences in corporate settings.”
Many people now prioritize their wellbeing since it unifies physical and mental health, leading to more comprehensive methods of promoting health and preventing disease.
Additionally, the US Centers for sickness Control and Prevention link it to a host of health, work, family, and financial advantages, including a lower chance of sickness, illness, and injury, improved immune system performance, quicker recovery, and longer lifespans.
The popularity of digital wellness providers has increased as people look for easy solutions that provide them multiple specializations and that they can access from any location.
According to Statista research, the digital fitness and wellbeing industry is expected to generate $146.8 billion in revenue in 2027, up from a projected $96.94 billion in 2023, at a compound annual growth rate of around 11%.
We will be able to work together to provide our members and clients with the most comprehensive preventative measures health and wellbeing services thanks to HealthierU’s integration into the LVL Wellbeing ecosystem, Mr. Blowers stated. “We’ll begin with more expansion in the United Arab Emirates, then expand our focus regionally, and ultimately worldwide.”
The series finale for the LVL Following a number of new business alliances, including one in the hospitality industry that would aid in the company’s expansion in Halifax, Canada, Dubai, Abu Dhabi, and Riyadh, LVL announced an investment round.
According to the statement, this would also act as a launchpad for the company’s upcoming wave of worldwide client base expansion. “The company has developed alliances and collaborations with some of the largest organizations in the area, all of which prioritize worker well-being and create measurable returns on investment,” the statement from the corporation stated.