Online Health Startup EveryMove Raises $3.5 Million
EveryMove is a Seattle-based startup that rewards you for focusing on better health. The more you do to improve your health, the more rewards you receive. EveryMove has raised $3.5 million in funding from Blue Cross and Blue Shield Venture Capital, Sandbox Industries, and Blue Cross Blue Shield of Nebraska. Clearly the funding from BlueCross is strategic since healthy people are less of a liability for insurance companies.
EveryMove’s Android app [Google Play] and iPhone app [Apple App Store] is used for collecting points, which can be converted into rewards from insurance companies, employers, and brands. Some of the brands that work with Everymove include Cabela’s, ESPN, and Blue Nile. EveryMove ensures that you are going to the gym by working with health tracker companies MyFitnessPal and Endomondo.
“We are aggressively moving forward towards our vision of giving consumers more power to demonstrate the value of their healthy choices,” stated EveryMove CEO Russell Benaroya. EveryMove plans to use the funding for expanding their services to more companies and employees across the country.
EveryMove will have to deal with all sorts of competitors. They will essentially be competing against corporate wellness programs, Medicaid programs that offers points, and wellness social networks like LifeKraze.