Stebby

Stebby, operating as the largest health and wellness platform in the Baltics, facilitates the management of employee wellness benefits for companies. Founded in Tartu, Estonia, in 2012 by Marti Soosaar, the company was initially known as SportID. Soosaar, a former athlete with a degree in movement and sports sciences from the University of Tartu, leveraged his background in organizing popular sports events and his experience as CEO of the Estonian Federation for Company Sports to launch the platform. The initial idea emerged from a brainstorming session at a seminar for the Estonian Company Sport Federation in 2011 or early 2012.

The platform operates on a B2B model, where corporate clients create an account and establish a compensation plan, defining the amount, period, and categories of services for their employees. Stebby charges a service fee calculated per active employee compensation account, with a regular price of €3 per month plus VAT per employee for companies with four or more staff. The company has evolved from solely a sports compensation tool to a comprehensive wellness marketplace, a strategic shift that led to its rebranding from SportID to Stebby. This marketplace provides individual users, whether their employer offers a subsidy or not, with access to a wide array of wellness services. The platform offers over 8,500 services from more than 2,200 partners, encompassing everything from gym memberships and physiotherapy to spa treatments and mental health services.

Stebby has achieved significant milestones, including expanding into Latvia and Lithuania in 2020 and growing its user base to over 180,000. In 2022, the private equity firm Livonia Partners acquired a majority stake in a management buyout, a move intended to fuel further product development and geographic expansion. Subsequently, in June 2024, the French benefits and rewards leader Up Group acquired a controlling stake in Stebby, marking an exit for Livonia Partners and positioning Stebby for broader European reach. The current management team, including CEO Kęstutis Mackelis and COO Roman Gnibida, continues to lead the company's operations across its offices in Tallinn, Tartu, Vilnius, and Riga.

Keywords: employee wellness, benefits platform, corporate health, Baltic market, wellness marketplace, compensation management, B2B SaaS, health services, Livonia Partners, Up Group