LVL Technology Holding is a Dubai–based digital and physical wellness company, offering subscriptions to physical clubs and digital apps to promote a healthy and happier lifestyle for corporate employees. LVL’s target consumers are large corporations that are focused on increasing employee engagement, retention, productivity, and overall well being.
Founded in 2018, LVL is a next-generation workplace wellbeing platform that is creating physical and virtual spaces that connect local and remote teams to promote health and community. Their mix of access to physical clubs and online content mirrors today’s hybrid working trends. LVL’s clients include healthcare and insurance provider Cigna Healthcare and International Holding Company, the United Arab Emirates’ largest publicly traded company.
Employers are increasingly supporting their teams with wellbeing and health initiatives
With offices in Canada, Hong Kong, Singapore, the U.S., and the UAE, LVL’s flagship LVL Studio is located in Dubai’s Downtown district. A survey conducted last year found that two-thirds of Middle East employees reported poor mental health and well-being, and one in three said they experienced burnout symptoms.1
On a more positive note, there are signs that governments and private employees are taking employee wellness seriously, including in the UAE, which has integrated employee well-being and health into the local government’s agenda with the creation of the National Program for Happiness and Wellbeing.2 Globally, 87% of organizations have at least one wellbeing initiative and 41% of companies say they have a wellbeing strategy that was integrated into their overall business strategy.3
LVL’s wellbeing programming aligns with the increased interest in companies investing in the health of their employees. LVL’s platform is scalable in that large corporations including insurance providers, financial institutions, commercial real estate firms, and others may proactively sell LVL’s wellbeing platform to their corporate clients.
LVL offering is supported by Aluna Partners, who joined Percent’s platform in February 2023
Earlier this year, LVL raised a $10 million Series A funding round from institutional investors, led by MG Wellness Holding. LVL intends to raise further proceeds through an offering with Percent to top-up the equity funding and help bridge LVL to its goals of profitability and the next equity round (Series B), targeted by the end of next year.
LVL Technology’s first offering on Percent is underwritten by Aluna Partners, who joined the Percent platform in February 2023. Aluna Partners focuses on technology scale-up companies, providing investment banking and consulting services to help them execute high-growth strategies.
LVL and Percent – creating opportunities for investors based on rising foreign inflows to the UAE
With Percent, LVL can raise capital to help maintain the company’s growth as it works toward profitability and continues to add more subscribed employees to LVL’s digital platform and physical wellness clubs.
Percent’s accredited investors gain access to more geographically diverse investments and the option to broaden their portfolio to include exposure to the Middle East, most notably in the UAE, where the economy grew by 7.6& in 2022.4 Meanwhile, foreign direct investment flows in the UAE increased by 10% in 2022 from the previous year, to a record $23 billion.5
2United Arab Emirates’ Government Portal
3“2022-2023 Global Wellbeing Survey,” AON
4“UAE’s GDP grew 7.6% in 2022, econ minister says,” Reuters, March 2, 2023