The funds raised to be utilised in technology, marketing, sales and operations
Insurtech start-up HealthySure has raised $1.2 million (Rs 9 crore approx.) in a Pre-Series A round led by Inflection Point Ventures. 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.
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “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 per cent 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.”
Anuj Parekh, Co-Founder & CEO, HealthySure says, “The current fundraise 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.”
HealthySure with a 20-member team is planning to scale up to 50-member team over the next six months. The start-up also aims to cover 150,000 individuals in the next 12 months with comprehensive health security and management.
