Insurtech startup HealthySure has raised $1.2 Million (9crore approx.) in a Pre-Series A round led by Inflection Point Ventures (IPV). The round also saw participation from We Founder Circle, Dexter Angels, Campus Fund, HEM Angels and other private investors.
The funds will be used to further fuel its mission of offering innovative and affordable group health insurance led solutions to the Indian workforce and their families.
Founded in April 2021, by two CAs, IIM-B alumnus Anuj Parekh and ISB alumnus Sanil Basutkar. HealthySure is transforming the Insurtech industry with tech-enabled employee healthcare protection and management solutions for Indian organizations.
It is already working with 70+ organizations and is covering 20,000+ people under its healthcare solutions. The startup helps in facilitating health insurance for the employed Indians and making it more affordable and accessible.
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “In this day and age, securing Health insurance for 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% for various reasons like difficulty in understanding the policy, affordability, trust factor, accessibility and so on. To address this problem, HealthySure has created a seamless platform to reach out to larger masses targeting SMEs whose majority workforce doesn't have insurance cover. We believe it is a huge market opportunity to be tapped and HealthySure is rightly positioned for it.”
HealthySure offers a product of Unified Health Insurance which lets employees take personal insurance cover as high as Rs. 1 crore and all this while saving significant costs since a sizable portion is subsidized by the employers themselves.
All this is managed through a seamless tech experience for the organizations and the employees. HealthySure also offers a complete healthcare stack for organizations to manage their health benefits.
- Fundraised to be utilised in technology, marketing, sales and operations.
- IPV has so far invested Rs. 330 Cr across 108 deals
Anuj Parekh, Co-Founder & CEO of HealthySure, says, “The current fundraising will help us invest in the team, technology and operations. We are not just building a disruptive startup, we are also looking to transform the lives of millions of Indian families with health security. We see tech as core to achieving our vision and are investing heavily to make our systems seamless and frictionless and hope to drive down health insurance costs further.”
“We are confident that we will unlock even more savings as we continue to innovate further. We ultimately want every Indian to be comprehensively covered through health insurance and eliminate financial worry at the time of health emergencies,” adds Anuj.
Tushar Agrawal, Partner at Dexter Angels, says "HealthySure is disrupting the Insurtech space with a product-first approach. The Insurance industry is a large market and it will see a host of innovations and consumer-first products to further drive its penetration. HealthySure’s Unified Health Insurance is one such product, with many more to follow. We have been tracking HealthySure's progress since they have launched and have been impressed with the traction they have achieved in a short time."
HealthySure with a 20-member team is planning to scale up to a 50-member team over the next 6 months. The startup also aims to cover 150,000 individuals in the next 12 months with comprehensive health security and management.
HealthySure is an employee welfare platform targeting SMEs to make insurance and healthcare affordable and accessible to the Indian workforce and their families.
The platform offers digitized policy and claim experience with curated health and wellness offerings. HealthySure has launched India's first Unified Health Insurance plan that allows employees to personalize their organization health covers with continuity post-employment thus, eliminating the need of holding an independent personal health cover and saving up to 75% premiums.
About Inflection Point Ventures:
Inflection Point Ventures is an angel investing platform with over 6200 CXOs, HNIs and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors.