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Total amount raised
₹90 Million
Latest funding date
5/1/2022
Location
HealthySure has successfully raised funds over three rounds, with the latest being a Seed round. The company is backed by 11 investors, including notable names like Pankaj Vermani and Sreeraman Mohan Girija.
What Is HealthySure?
HealthySure is an insurtech platform based in Mumbai, Maharashtra, India, specializing in employee health benefits. The company operates in the Employee Benefits, Health Insurance, Insurance, and InsurTech industries.
With an employee count ranging from 51 to 100, HealthySure focuses on providing affordable and accessible group insurance plans tailored for SMEs. The company emphasizes 24/7 claims support, dedicated account management, and technology-driven solutions to manage policy benefits and track claims.
How Much Funding Has HealthySure Raised?
- Pre-Series A
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: We Founder Circle
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: HealthySure said part of the funds would go to technology enhancement, upscaling the team and operations.
- Seed Round
- Amount Raised: INR 90,000,000
- Date: February 2022
- Lead Investors: Inflection Point Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and expansion.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: LetsVenture, Aditi Shrivastava, Sreeraman Mohan Girija, Pankaj Vermani, Sachin Shetty
- Valuation at Round: INR 50 crores
- Motivation Behind the Round: To fuel HealthySure's mission of offering innovative and affordable group health insurance-led solutions to the Indian workforce and their families.
Total Amount Raised: INR 90,000,000. Two rounds have undisclosed amounts. The one disclosed round is carried in rupees, so no dollar total is given.
Current Valuation: INR 50 crores
Key Investors
- We Founder Circle
- Details: We Founder Circle is a Mumbai-based community of founders and angel investors that backs early-stage startups. It led the pre-Series A round HealthySure announced in December 2021.
- Investment Focus Areas: Early-stage startups across sectors, with cheques VCCircle reported at about $50,000 to $150,000.
- Notable Investments: Microfinance.ai, Settl, Knocksense
- LetsVenture
- Details: LetsVenture is a platform that connects startups with investors. It facilitates funding for early-stage startups by providing a marketplace for investors and entrepreneurs to collaborate.
- Investment Focus Areas: Various sectors including technology, healthcare, and consumer goods.
- Notable Investments: Multiple startups across different sectors.
- Aditi Shrivastava
- Details: Aditi Shrivastava is the founder of Pocket Aces, a digital entertainment company. She has a background in media and entertainment, focusing on creating engaging content for the digital audience.
- Investment Focus Areas: Digital entertainment, media, technology.
- Notable Investments: Pocket Aces.
- Sreeraman Mohan Girija
- Details: Sreeraman Mohan Girija is the cofounder of Fynd, an e-commerce platform. He has extensive experience in the technology and retail sectors, focusing on innovative solutions for online shopping.
- Investment Focus Areas: E-commerce, technology, retail.
- Notable Investments: Fynd.
- Pankaj Vermani
- Details: Pankaj Vermani is the founder of Clovia, a lingerie and sleepwear brand. He has a strong background in consumer goods, particularly in the fashion and lifestyle sectors.
- Investment Focus Areas: Consumer goods, fashion, lifestyle.
- Notable Investments: Clovia.
- Sachin Shetty
- Details: Sachin Shetty is the cofounder of Giva, a jewelry brand. He specializes in the consumer goods sector, with a focus on jewelry and fashion.
- Investment Focus Areas: Consumer goods, jewelry, fashion.
- Notable Investments: Giva.
What's Next for HealthySure?
HealthySure is poised for significant growth, leveraging the increased demand for employee health security post-COVID. With a valuation of INR 50 crores and plans to cover 400+ organizations and 100,000+ lives in the coming year, the company is well-positioned to expand its market reach. The additional funding will fuel innovation and help HealthySure offer more comprehensive group health insurance solutions.
Future fundraising opportunities are likely as HealthySure continues to demonstrate growth and market penetration. The company may attract more investors and potentially seek strategic partnerships or acquisitions to enhance its offerings. However, challenges such as competition from other insurtech companies and maintaining growth momentum could pose hurdles. Ensuring scalability and meeting high investor expectations will be crucial for HealthySure's continued success.
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