Chilean startup Betterfly, whose tech platform propagates healthier habits such as walking and mediation, has become Latin America’s latest unicorn.
Encouraged by the investors’ growing interest in their platform, the company’s founder and CEO, Eduardo Della Maggiora, has announced that he would expand operations to seven countries across Latin America by the end of this year.
The countries Betterfly will extend its footprints to include Mexico, Colombia, Argentina, Peru, Ecuador, Panama, and Costa Rica.
The Series C round of fundraising has reportedly pushed the company’s valuation to more than $1 billion.
Hundreds of employers in Chile use Betterfly’s platform to incentivize their employees’ healthy habits such as walking and meditation.
The ultimate goal of the startup is to foster a healthy workforce so that companies will have no need to spend a large sum of money on the health of their employees.
For every business, employees are its lifeblood. And healthy employees will often turn out to be innovative and more productive.
Betterfly, whose operation is currently limited to Chile and Brazil, saw its revenue grow by a staggering 20% in 2021.
Betterfly is unique, meaning the company has no known competitors in Latin America. Local media reports say that Betterfly is Latin America’s first social enterprise to become a unicorn.
The company has plans to launch operations in the United States and Spain in 2023, doubling from the existing 500 to more than 1,000 employees.