EquityList Customer Story: HealthifyMe’s Transition To Seamless Equity Management

Navigating a necessary change

HealthifyMe, a global player in the digital health and fitness space, encountered difficulties with their previous equity management platform after the vendor was acquired. The acquisition resulted in pricing that was no longer sustainable, along with limited customization options.

“We were working with another vendor, but they got bought out by a larger company, so the pricing became sort of untenable. There were also issues with customization,” explains Ayush Sinha, Vice President & Head of People at HealthifyMe.

Realizing the need for a more adaptable and cost-effective solution, HealthifyMe began evaluating new options, eventually turning to EquityList as the best choice.

Key criteria for choosing the right platform

When looking for a new equity management tool, Ayush and his team had specific criteria in mind. “You need to know who the end user is,” Ayush explains, pointing out that there are two sets of users for any platform: administrators and employees. 

“For the employees, do they get all the information they need on the platform? Are they able to see their ESOP policy, grants, vesting, strike price, trends, and everything related?” Ayush highlights the importance of comprehensive information for employees, as well as having an intuitive user-friendly interface.

From an admin’s perspective, HealthifyMe needed a platform with flexible customization.

“The reports, dashboards, access & visibility controls—how easy are they to customize?” Ayush emphasizes. “If there are retroactive changes that need to be made, can they be done through the platform rather than manually?” This adaptability made EquityList a strong contender.

Onboarding: exceeding expectations

Ayush found EquityList's onboarding process impressive, particularly in terms of the support provided by the account management team.

“I’ve been surprised by the account managers that I’ve worked with. They have been stupendous in terms of their availability, commitment to understanding my problem statements, and solving for the challenges that I’ve had,” Ayush shares.

Their proactive approach and ability to troubleshoot efficiently stood out.

“That level of support is head-and-shoulders above some of the account management teams I’ve worked with on different platforms,” he adds. This “five-star” support made the transition smooth and easy for HealthifyMe.

A focus on setup and accuracy

The initial configuration phase was crucial for HealthifyMe’s successful transition.

“It was extremely important that all the data got transferred accurately. We have to do our checks in terms of ensuring that the data is reflecting accurately for every employee,” Ayush recalls. 

Aligning grant letters with their internal standards was also a key priority, along with the expectation that the platform is easy to navigate, both for administrators and employees—something EquityList is designed to deliver.

 “Is it easy to navigate? Are the grant letters in sync with our templates and standards? These were our focus areas at the start,” Ayush says. 

Ensuring the system and workflows were set up correctly, in sync with their organizational requirements, laid a foundation for success at HealthifyMe.

How EquityList powers key milestones at HealthifyMe

EquityList is crucial to HealthifyMe’s operations, such as issuing new grants during hiring or appraisals, making adjustments to the ESOP pool, communicating updates to stakeholders, and fundraising events. 

“During appraisals, it’s constantly in use as we make decisions on new grants,” Ayush explains. The platform also proves essential during fundraising events, where changes in the ESOP pool, buybacks, or variations require close monitoring. “We use it a lot during fundraising when there are variations in the ESOP pool or buybacks,” he adds.

One of the most important features for Ayush is pool utilization tracking.

“At my level, the most important thing I look at is pool utilization. What’s the pool at, and what do we need to do if we’re reaching, say, 80% utilization?” he explains. This ability to get real-time insight on equity allocation is key to HealthifyMe’s strategic planning and growth.

Significant time savings

Ayush points out that switching to EquityList has saved the team substantial time and effort.

‍“Overall, the time my team and I would have spent on equity management without a tool versus now with EquityList is close to 80% savings in time and effort,” Ayush shares. This reduction allows the team to manage equity processes more efficiently than earlier.

Advice for companies evaluating equity management platforms

For organizations looking to implement a new equity management platform, Ayush offers practical advice. “Before going into the market, make a laundry list of what you need, and evaluate based on that, not just the demo presentations,” he advises. Having a clear understanding of the company’s needs and ensuring the platform meets those requirements is key.

He also stresses the importance of after-sales support. “Make sure you’re looking at what happens post-implementation. The support you get is critical, so do your reference checks to ensure you’ll have good after-sales service.”

A promising future with EquityList

Looking back, the move to EquityList has had a major positive impact on HealthifyMe’s equity management processes.

As Ayush sums it up: “It’s been a hassle-free seamless experience since we’ve migrated to EquityList. The best thing about the platform is that the UI/UX and workflows are extremely beneficial from both POVs of an administrator and an employee. Their team has surpassed my expectations in terms of making sure that equity processes are more efficient and manageable for us.”

HealthifyMe’s transition to EquityList has delivered substantial value, from significant time savings to improved accuracy in equity management. With features like pool utilization tracking and a user-friendly interface, EquityList has become a critical tool during appraisals, stock option issuance for new employees, and fundraising rounds. The platform ensures that every equity-related decision is made accurately.