Insurtech start-up HealthySure has raised $1.2 Mn (9crore 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.
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’s already working with 70+ organizations and is covering 20,000+ people under its healthcare solutions. The start-up helps in simplifying health insurance for the employed Indians and make it more affordable and accessible.
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% 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 an insurance cover. We believe it is a huge market opportunity to be tapped and HealthySure is rightly positioned for it.”
HealthySure offers a unique 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 as well as the employees. At the same time HealthySure also offers a complete healthcare stack for organizations to manage their health benefits.
Anuj Parekh, Co-Founder & CEO of 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.”
“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 span of time.”
HealthySure with a 20-member team is planning to scale up to 50-member team over the next 6 months. The start-up also aims to cover 150,000 individuals in the next 12 months with comprehensive health security and management.