I am excited to announce that Madrona Venture Group has joined the $9.5 million Series A round for TaskHuman. TaskHuman is our most recent investment in our Future of Work Investment Theme. This theme has been evolving for the last several years, and the current environment has created an order of magnitude acceleration, as businesses of all sizes rush to find new intelligent applications that help them collaborate more effectively when employees are remote, build and retain more diverse and distributed workforces, and prioritize digital-first workflows and processes that have remained largely “in-person” and workplace focused. Further, in its November 2021 report, The Future of Employee Experience: 22 Predictions for 2022, Qualtrics notes that “there will be a cultural shift in how leaders build more organizational awareness of employees’ well-being, and create space for people to care for their well-being. Senior leaders will start to embrace employee well-being as a business priority, not just a priority for the HR benefits team.”
And why not?
The cost of corporate healthcare benefits is 20X the cost of wellness benefits, and yet 80% of type 2 diabetes, 80% of heart disease and strokes, and 40% of cancers could be prevented if people ate healthy, stopped smoking and got in shape (source: Partnership to Stop Chronic Disease). We believe companies will continue to invest in wellness services to help drive down healthcare costs and improve employee retention value. But, these programs should work – and today they don’t. Today, the wellness market exceeds $50 billion each year, but the primary delivery model is onsite services, preventing corporate programs from meeting employees where they are and resulting in engagement rates that are commonly no better than 5%.
Enter TaskHuman.
Founded at the end of 2017, TaskHuman powers a mobile platform and marketplace for the benefit of corporate employees and coaches. Live, whole-person coaching is available globally from more than 1,000 providers across topics of daily work and personal life including fitness, nutrition, leadership coaching, meditation and stress management and more. TaskHuman’s offerings are available to the entirety of a company’s workforce and these offerings are consumable as live 1:1 video sessions via the TaskHuman app, in group sessions, or through asynchronous content. As a result, TaskHuman customers, which include Zoom, Medidata, Oakland Housing Authority, RingCentral, Intelycare and others, on average, see global engagement rates well exceed 30%.
We believe TaskHuman’s mission is an important one. As we continue to imagine the future of work, one tenet is clear: employee well-being is no longer a choice or an option; it is a business imperative.
Welcome to the Madrona family, TaskHuman!
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