HealthySure, a Mumbai-based insurtech startup, announced today that it has raised $1.2 million in a pre-Series A funding round led by Gurugram-based angel investment firm Inflection Point Ventures.
We Founder Circle, Dexter Angels, Campus Fund, HEM Angels, and other private investors also participated in the round.
HealthySure is an employee welfare platform that targets SMEs to make insurance and healthcare affordable and accessible to the Indian workforce and their families. It was founded in April 2021 by IIM-B alumnus Anuj Parekh and ISB alumnus Sanil Basutkar. With curate health and wellness offerings, the platform provides a digitised policy and claim experience.
The startup has launched a Unified Health Insurance plan that allows employees to personalise their organization’s health coverage with post-employment continuity, obviating the need for a separate personal health insurance policy and saving up to 75 percent on premiums.
It currently collaborates with over 70 organisations and provides healthcare to over 20,000 people.
The funds will go toward HealthySure’s mission of providing innovative and affordable group health insurance-led solutions to the Indian workforce and their families, according to the company. “The current fundraise will allow us to invest in our team, technology, and operations,” said Anuj Parekh, HealthySure’s Co-Founder and CEO.
Additionally, HealthySure is also planning to scale its team from 20-member to 50-member over the next six months. It also aims to cover 150,000 individuals in the next 12 months with comprehensive health security and management. Pocket Aces, Secure Debt, CREDR, Balaji Wafers, Clovia, Wealth Cafe are some of its notable clients.
Speaking on the investment, Mitesh Shah, Co-Founder, Inflection Point Ventures, said: “In this day and age, securing Health insurance for each and every family is imperative as it helps to bear the huge cost of future health concerns which at times can be extremely expensive and unaffordable. However, the penetration of voluntary health insurance in India is less than 10 percent for various reasons like difficulty in understanding the policy, affordability, trust factor, accessibility and so on.”
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