League Valuation, Funding & Investors

League is valued at $1.2B as of December 2021.

Last League valuation

$1.2B

Series C · Dec 2021

Last League funding round

$95M

Series C · Dec 2021

Cumulative funding League raised

$171M

across 4 funding rounds

Key investors in League

  • Real Ventures
  • BDC Capital
  • OMERS Ventures
  • TELUS Global Ventures
  • Wittington Ventures
  • RBC Ventures

League Overview

About League

League is a platform technology company enabling personalized digital health experiences for consumers. Toronto-headquartered and founded in 2014, it powers healthcare apps with benefits navigation, wellness programs, and engagement tools for employers and insurers. League integrates with providers across North America to deliver tailored care journeys.


Founded

2014

HQ

CanadaToronto

Website

league.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.2B (Dec 2021)

League Valuation

League is currently valued at $1.2B, based on its Series C in December 2021.

The $95M round was led by TDM Growth Partners, with participation from Portage Ventures, Wittington Ventures, Manulife Capital, Real Ventures, Workday Ventures and 4 other investors.

League valuation by funding round

League valuation by funding round
DateStageValuation
Dec 2021Series C$1.2B

League Funding History

League has raised a total of $171M across 4 funding rounds.

League's first fundraising round was a $4M seed round in November 2014. The most recent completed round was a $95M Series C in December 2021.

League funding rounds

League funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Series CTDM Growth Partners (lead); Portage Ventures; Wittington Ventures; Manulife Capital; Real Ventures; Workday Ventures; OMERS Ventures; BDC Capital; RBC Ventures; TELUS Global Ventures$95M$1.2BLeague is a Toronto-based healthcare platform company that provides a platform-as-a-service (PaaS) offering called Health OS, positioning itself as digital infrastructure for an integrated health ecosystem. The platform enables providers, payers, consumer health partners, and employers to build comprehensive healthcare consumer experiences, serving hundreds of customers including organizations such as Humana, Shopify, and Shoppers Drug Mart. In December 2021, League closed a Series C funding round of $95 million USD led by TDM Growth Partners, with participation from Workday Ventures and existing investors including OMERS Ventures, RBC Ventures, TELUS Ventures, and others. The round priced the company at a pre-money valuation of $850 million USD (or $1.1 billion CAD), bringing total funding to over $205 million USD and establishing League as Canada's newest unicorn. The capital was designated to accelerate growth, expand internationally, and scale the platform-as-a-service offering to become the leading digital infrastructure for healthcare ecosystems.
Jul 2018Series BTELUS Global Ventures (lead); Infinite Potential Group; RBC Venture Partners; Wittington Ventures; Real Ventures; BDC Capital; RBC Ventures; Ontario Municipal Employees Retirement System$47M-League is a Toronto-based healthcare technology company founded in 2014, specializing in a digital healthcare consumer experience platform that serves payers, providers, and consumer health partners to deliver personalized, high-engagement solutions improving health outcomes. The platform powers experiences for brands like Highmark Health, Manulife, Medibank, and Shoppers Drug Mart, with a global footprint reaching over 25 million contracted users across the US, Canada, and APAC as of recent announcements. League has demonstrated strong growth, achieving a 158% CAGR since its first full year of revenue in 2016 and recognition as one of Deloitte's Fast 50 fastest-growing tech companies since 2018, alongside metrics like 30-40% monthly active user rates and over 4 million recommended health activities completed monthly. The specified July 2018 funding round, led by TELUS Global Ventures with participation from BDC Capital, Infinite Potential Group, OMERS (Ontario Municipal Employees Retirement System), RBC Venture Partners, RBC Ventures, Real Ventures, and Wittington Ventures, raised approximately $47.2 million, contributing to League's cumulative venture funding exceeding $235-285 million across multiple rounds. Earlier rounds include a $25 million Series A in June 2016 led by OMERS Ventures, while later financings encompass a $95 million round in January 2022, $100 million debt financing in 2025 from RBCx, and others totaling $271-500 million raised through 7+ rounds by 2025. Traction includes scaling to 40 million contracted users with 160% year-over-year growth by 2025, petabytes of annual healthcare data for recommendation engines, and ambitions to reach 100 million users by 2030. Recent funding supports AI product development, sales expansion, and M&A.
Jun 2016Series AOMERS Ventures (lead); RBC Capital; Infinite Potential Technologies; Real Ventures; Manulife; BDC Capital; Power Financial$25M-League is a Toronto-based digital health insurance and employee benefits platform that enables employers to allocate health benefit budgets to employees, who can then select from thousands of verified professionals including doctors, dentists, nutritionists, and life coaches. The company's platform connects employers and employees with a curated healthcare network through a consumer-centric experience. In June 2016, League closed a Series A round of $25 million USD led by OMERS Ventures, with participation from strategic investors including Manulife Financial, Power Financial Corporation, RBC, BDC IT Venture Fund, Infinite Potential Technologies, and Real Ventures. The round built on OMERS Ventures' prior seed investment of $4 million in November 2014. League used the Series A capital to expand its platform capabilities and scale operations, with specific plans to enter the US market beyond its initial presence in Toronto, Vancouver, and Seattle. By the time of this Series A round, the company had already secured notable enterprise clients including Shopify, Uber, and Unilever, positioning it as one of the larger players in the employee wellness and benefits administration space.
Nov 2014SeedOMERS Ventures (lead); Infinite Potential Technologies; Real Ventures; Foundation Capital$4M-League, a Toronto-based health-tech company founded in 2014 by Michael Serbinis, Dan Galperin, and Dan Leibu, provides an AI-powered healthcare consumer experience platform connecting users to health services and benefits. The platform supports payers and providers in benefits administration, member engagement, and care navigation, powering digital experiences for organizations like CareSource, HCSC, SCAN, and Manulife, serving over 63 million people globally. In November 2014, League raised a $4 million USD seed round led by OMERS Ventures, with participation from Foundation Capital, Infinite Potential Technologies, and Real Ventures, to kickstart development of its healthcare consumer experience platform. The post-money valuation was not publicly disclosed. League has since raised over $284-500 million across multiple rounds from investors including TELUS Global Ventures, Wittington Ventures, RBC Ventures, BDC, Portag3 Ventures, and Manulife. Later traction included partnerships with insurers like AETNA, Humana, Cigna, United Healthcare, and MetLife, US expansion, and offices in San Francisco, New York, Chicago, and London.

Who has invested in League?

18 investors have backed League across its funding rounds, including Real Ventures, BDC Capital, OMERS Ventures, TELUS Global Ventures, Wittington Ventures and RBC Ventures.

Lead investors include TDM Growth Partners, TELUS Global Ventures and OMERS Ventures.


League Investors

Investors in League by funding rounds participated
InvestorHQRoundsRoleFirst check
Real VenturesCanadaMontreal4ParticipantNov 2014
OMERS VenturesCanadaToronto3LeadNov 2014
BDC CapitalCanadaMontreal3ParticipantJun 2016
Wittington VenturesCanadaToronto2ParticipantJul 2018
Infinite Potential TechnologiesIndiaJamshedpur2ParticipantNov 2014
RBC VenturesCanadaToronto2ParticipantJul 2018
TELUS Global VenturesCanadaVancouver2LeadJul 2018
Infinite Potential Group--1ParticipantJul 2018
Portage VenturesCanadaToronto1ParticipantDec 2021
RBC Venture PartnersCanadaToronto1ParticipantJul 2018
RBC CapitalCanadaToronto1ParticipantJun 2016
Manulife CapitalCanadaToronto1ParticipantDec 2021
ManulifeCanadaToronto1ParticipantJun 2016

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League Competitors

League competitors include listed companies like Guiyang Longmaster and Medley Inc., and private ones like Assort Health, Tala Health, Wheel and Cadence Solutions.

Public and private companies comparable to League
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Assort HealthUnited StatesSan Francisco, CAPrivate$3M-$1.2B-
Tala HealthUnited StatesSan Francisco, CAPrivate--$1.2B-
WheelUnited StatesAustin, TXPrivate--$1.2B-
Cadence SolutionsUnited StatesNew York City, NYPrivate$35M-$1.2B-
Guiyang LongmasterChinaChinaPublicly listed$44M$5M$482M-
Medley Inc.JapanJapanPublicly listed$236M$32M$459M1.8x

League Public Comps

League is still privately-owned, but its public comps include GoodRx, U.S. Physical Therapy, Teladoc, PHC Holdings, Vitec Software, EverCommerce, iFLYHealth, Indegene, Omnicell and HealthStream.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GoodRx$797M$173M1.8x1.8x8.1x5.5x
U.S. Physical Therapy$781M$110M2.5x2.3x17.5x18.9x
Teladoc$2.5B$124M0.6x0.6x11.3x5.0x
PHC Holdings$2.3B$320M1.0x1.0x7.2x6.5x
Vitec Software$371M$151M3.7x3.5x9.1x9.0x
EverCommerce$589M$128M3.0x2.9x13.7x9.5x
iFLYHealth$136M($7M)7.7x6.2x(150.8x)(144172.5x)
Indegene$366M$68M3.7x3.3x19.9x18.2x

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Common questions about League

When was League founded?League was founded in 2014.
Where is League headquartered?League is headquartered in Toronto, Canada.
Is League publicly listed?No, League is a private, VC-backed company.
What is League's valuation?League was last valued at $1.2B in its Series C in December 2021.
How much funding has League raised?League has raised $171M across 4 funding rounds.
What was League's last funding round?League's last funding round was a $95M Series C in December 2021, led by TDM Growth Partners.
Who are League's investors?League's investors include Real Ventures, OMERS Ventures, BDC Capital, Wittington Ventures, Infinite Potential Technologies, RBC Ventures, TELUS Global Ventures, Infinite Potential Group, Portage Ventures, RBC Venture Partners and 8 others.
Which companies are comparable to League?Companies comparable to League include Assort Health, Tala Health, Wheel, Cadence Solutions, Guiyang Longmaster and Medley Inc..

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