H1 Deep Dive on the Global Wellbeing Sector Landscape
White Star Capital is releasing its latest industry deep dive report, following a series of publications on Digital Health, Communication and Collaboration, and Fintech. In our Wellbeing Sector Report, we explore a landscape of innovative products and services that improve one’s everyday life, comfort, health and overall happiness. This report focuses on segments of the industry, including Fitness and Nutrition, Beauty and Personal Care, Family Wellbeing and Mental Wellbeing, and explores the outlook from North America, Europe and Asia.
At White Star Capital, our Wellbeing portfolio includes startups such as Parsley Health, a new kind of healthcare service that integrates technology, nutrition, wellness and prevention into cutting-edge primary care and arfa, a platform for the creation of new CPG brands and products. Our first foray into the industry began with our early investment in Dollar Shave Club, a pioneer of the D2C sales channel that has transformed how brands interact with their customers. Going forward, we expect shifting population demographics across the world and an emphasis on sustainability and healthier lifestyles to drive innovation and investment trends.
The COVID-19 pandemic has presented new challenges for society, although early-stage businesses have been responsive in introducing new solutions and products for dramatically changed lifestyles. We see new opportunities in Mental Wellbeing and the Silver Economy (consumers aged 50 and older), two fast-growing VC segments only partially addressed by traditional healthcare. Some of our other key insights into the Wellbeing sector include:
- Global Wellbeing funding has grown at a 26% CAGR since 2011 and totaled $28bn+ in the past three years, driven by mega-rounds in startups like Peloton, Calm, Gympass and Yatsen (Perfect Diary).
- 13 of the 17 Wellbeing unicorns, including Dollar Shave Club, 23andMe, Hims, Glossier and Peloton, are based in North America, with the remainder located in Asia.
- Wellbeing companies are maturing across all regions, as Series B rounds contribute a greater share of deal volume year over year. Funding round sizes have also increased significantly across major regions and funding stages, with Asia taking the lead for the largest valuations for Series A and B stage companies.
- Wellbeing startups continue to be attractive targets for strategic investors and public markets, with a record 128 companies acquired or taken public in 2019.
From its inception, White Star Capital has been investing in entrepreneurs dedicated to enhancing the consumer experience and we look forward to making further investments in the sector’s most promising companies.
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About White Star Capital
White Star Capital is a global multi-stage technology investment platform that invests in exceptional entrepreneurs building ambitious, international businesses. Operating out of New York, London, Paris, Montreal, Tokyo, and Hong Kong, our presence, perspective, and people enable us to partner closely with our Founders to help them scale internationally from Series A onwards.