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Problem Tech Solves
Tech Brief
Working father and Box CEO Aaron Levie put it best: “Cleo is a category-creating company that picks up where the healthcare system leaves off.” America’s healthcare system is focused on keeping people alive, but overall wellbeing involves so much more than that. Since a majority of people in the US get their health insurance through work, employers are recognizing that what they offer today isn’t enough – especially for families. An OBGYN doesn’t help with adoption, a pediatrician doesn’t help with finding the right preschool, and a general practitioner doesn’t help you figure out the right care approach for a sick spouse or parent. Many are still left with an endless list of issues and questions. “How do I care for my aging parents?” “How do I sleep train my baby?” “How do I deal with a teen facing depression during the pandemic?” People have no clear path to finding answers that are tailored to their personal challenges. Cleo fills the massive gap between the healthcare plans that businesses offer and what everyday working families need to be successful, happy, and healthy.
Tech Differentiators
Cleo has made significant product expansions this year which further set it apart, maintaining its position as the most comprehensive family support platform on the market. While benefits frequently focus on those ready to start a family, Cleo knows all caregivers need help. Unlike competitors which offer point solutions and end-goal offerings, Cleo is an end-to-end support platform that focuses on the overall wellbeing of families and caregivers. With its acquisition of CareTribe, Cleo added new solutions for those caring for an aging parent or sick family member. The company also recently introduced Cleo Teens, which provides evidence-based solutions and support in response to gender identity exploration, eating disorders, mental health, social media and technology use, college planning, substance abuse, and more. These are major milestones for the employee benefits industry as it marks the first time employers can offer comprehensive support to every member of the working family. Cleo is the only company of its kind built on the idea that family is a journey. Cleo’s superpower is its comprehensive nature that meets people where they’re at, every step of the way. The company has also set itself apart through its funding and renowned investors. Cleo has raised more than $137M from executives including former Yahoo! CEO Marissa Mayer, LinkedIn CEO Jeff Weiner, Levi’s CEO Chip Bergh, Box CEO Aaron Levie, and former General Electric CEO Jeff Immelt. Backers like these will empower the business to maintain its leadership position and supercharge its expansion.
Validation
According to a survey of more than 2,000 current Cleo members, the company has found: 61% of Cleo families report that the support they received from Cleo helped them improve their mental health and wellbeing. 71% of Cleo families indicated that the support they received from Cleo helped them have higher confidence as a parent. 47% of Cleo families report Cleo has helped them better balance their work and parenting responsibilities.
