Dubai-based well-being management platform Lifemost has secured a pre-seed investment deal with angel investors in the MENA region. The investment amounts to $650,000 and will be allocated towards product development and marketing initiatives. Lifemost aims to utilize a portion of the fresh capital to explore new partnership opportunities in the MENA market.
Lifemost specializes in enhancing employee well-being through its B2B platform, which provides access to a wide range of physical and mental health activities via a single mobile app. Their services include access to various studios, corporate events, coaching and mindfulness sessions, stress management workshops, educational lectures, online courses, and live fitness classes.
The platform also offers customized options tailored to meet the specific goals of companies. Lifemost's CEO and founder, Dennis Yudchitz, emphasizes the importance of corporate well-being activities for recruitment, sustainable functioning, and employee motivation. Yudchitz notes that Lifemost provides a customized solution by aligning the platform's content with the specific needs of companies.
Currently, Lifemost offers over 1,000 activities across Dubai and Abu Dhabi, available in more than 120 locations. The company plans to expand its offerings to 300 activities by the end of the year. Research on corporate well-being market trends reveals that companies implementing wellness programs experience lower absenteeism rates, reduced healthcare costs, and increased productivity.
According to recent data, 83 percent of employees consider their well-being to be as important as their salary. However, 36 percent of employees do not believe their employer cares about their well-being. Lifemost believes that companies need innovative solutions to attract and retain high-level employees and specialists.
The wellness industry in the Middle East, valued at over $108 billion, has been experiencing consistent growth over the years.
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