CXA Group

CXA is a corporate benefits aggregator which allows employees of companies to decide upon their own policies within the employers budget. CXA provides a marketplace, available across all devices, to browse over 1,000 products across 14 categories. Employees can use CXA to proactively manage and monitor their health coverage by choosing policies that suit them, with personalised tips and recommendations, and pay through an e-wallet that displays its balance in real-time.

As well as a marketplace, CXA uses data analytics to help users understand their biometrics, and combines this with data on key life events, past purchase behaviour, concerns and goals. It leverages this to offer recommendations to help address personal health risks and year-on-year progress tracking. Additionally the app shows how users may look in 10-30 years time if they continue to make lifestyle choices that have a negative impact on the ageing process.

Finally, there is an admin section which contains all information regarding policies, such as documentations, claims submission and more.

CXA aim to digitalise claims from customers whilst also bring employers and employees closer together through payment flows. The platform simplifies administration for HR teams, and also provides insight via and employee dashboard so employers can better understand their team's health.

In 2018 CXA reported a 65% revenue growth.

In July 2019, CXA announced it was setting up a tech hub in Vietnam.

Later, in September, the company announced it planned to seek a new $50m funding round, at a valuation of $250m. At the time, CEO Rosaline Koo revealed CXA serves over 600 companies and more than 766,000 employees across 20 countries.

In March 2020 the company laid off 'close to 40 people' in CXA's engineering, product development and marketing departments, according to one employee. Rosaline Koo corrected this, stating 'only 12 staff in Singapore' (out of a regional team of 319) had been laid off as part of its profitability drive whilst it continued to raise its next $50m funding round. The company had previously stated it had seen a 50% revenue growth in 2019.

Later that same month the company collaborated with ThoughtWorks to re-architect its core health and wellness platform. The platform is now based on micro-services architecture.

CXA Group announced it had raised fresh funding from Humanica, a Thai HR Solutions provider, and HSBC Life (International) Ltd, in May 2020. As well as the funding, CXA also signed a Memorandum of Understanding with Humanica to integrate its human capital management platform with CXA's Thailand platform, marking CXA's expansion into Thailand.

CXA has previously seen backing from Eduardo Saverin, HSBC, Singtel Innov8, B Capital Group and more.

In February 2021 CXA announced that it was selling off its brokerage division. Whilst it was delivering in the region of 30% of revenues, the sale means they're no longer targeting another fund raise later this year as they double down on the SaaS business, which saw in excess of 200% growth last year.

In March 2021 CXA Group announced it was laying off 70 employees - over a third of its workforce - as it shuts down its Vietnam tech hub in April, as part of its plans to consolidate its tech operations in China. According to Founder and CEO Rosaline Chow Koo the sale would also negate the need for further fundraising in 2021.