Vancouver-based PAI Health, which provides a platform to monitor heart rate data and provide personalized recommendations on exercise based on fitness level, has raised $9 million.
While investors weren’t immediately disclosed, BetaKit has reached out for more information. The funding will be used for expansion into the insurance space. PAI Health was formerly known as Mio Global while it built proprietary heart rate trackers; it raised a $19 million Series B in 2016 for its work. Last year, it rebranded to PAI Health and now integrates into other wearable brands and health platforms.
“We provide unique solutions that make the science behind cardiorespiratory fitness accessible and relevant to both insurers and their customers, which provides an opportunity to start a dialogue about improved health and wellness,” said Peter Taylor, CEO of PAI Health. “Our PAI metric is more universal and personal than counting steps, as it gives credit for all types of activity and is tailored for the health level of the individual, allowing insurers to increase customer engagement and satisfaction while also leading to reduced costs and risk.”
For insurers, PAI Health can provide baseline assessments while customers can get insight into making lifestyle changes, the company said. It includes a Fitness Age Test, and changes in health from physical activity can be measured and recorded constantly monitored. PAI Health said that this real-time approach can identify opportunities for proactive health improvement, rather than reactive health care.