Total amount raised
$11 Millions
Latest funding date
05/01/2022
Location
Nova Benefits has successfully raised funding through multiple rounds, with the latest being a Venture - Series Unknown round. The platform offers a comprehensive suite of health insurance and wellness benefits tailored for employees and their families.
Keep reading to explore the intricacies of Nova Benefits' fundraising journey and the investors backing this innovative platform.
What Is Nova Benefits?
Nova Benefits, founded in 2020, is an employee wellness platform based in Bengaluru, Karnataka, India. The company was established by Saransh Garg and Yash Gupta. It currently employs between 101-250 people.
Nova Benefits offers a comprehensive suite of services, including customized group health insurance plans, super top-ups, group COVID-19 insurance, teleconsultations, mental wellness support, and fitness programs. Their tech-first platform aims to simplify the management of employee benefits for HR and admins.
With a mission to make workplaces happier and healthier, Nova Benefits provides personalized and easily accessible employee benefits. Their services extend to dental and vision checkups, maternal wellness, full body health checkups, discounted medicines, and group accident and medical cover.
How Much Funding Has Nova Benefits Raised?
- Seed Round
- Amount Raised: $1M
- Date: April 2021
- Lead Investors: Better Capital, Multiply Ventures, Titan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and expand their tech-first platform for employee benefits.
- Series A
- Amount Raised: $10M
- Date: September 2021
- Lead Investors: Bessemer Venture Partners, Susquehanna International Group (SIG)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their suite of employee wellness services.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: AngelList
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for further development and market penetration.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: SHL Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and expand their market reach.
Total Amount Raised: $11M
Current Valuation: Not publicly disclosed
Key Investors
- SHL Capital
- Details: SHL Capital is a venture capital firm that focuses on early-stage investments. They are known for supporting innovative startups with high growth potential.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Not publicly disclosed
- AngelList
- Details: AngelList is a platform that connects startups with investors. It was founded by Naval Ravikant and Babak Nivi in 2010.
- Investment Focus Areas: Technology, SaaS, Fintech
- Notable Investments: Uber, Stripe, Robinhood
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm with a history dating back to 1911. They invest in early to growth-stage companies.
- Investment Focus Areas: Cloud Computing, Consumer, Healthcare
- Notable Investments: LinkedIn, Shopify, Pinterest
- Susquehanna International Group (SIG)
- Details: SIG is a global quantitative trading firm founded in 1987. They also invest in private equity and venture capital.
- Investment Focus Areas: Fintech, Healthcare, Technology
- Notable Investments: ByteDance, Payoneer, Credit Karma
- Better Capital
- Details: Better Capital is an early-stage venture capital firm based in India. They focus on investing in technology-driven startups.
- Investment Focus Areas: SaaS, Fintech, Edtech
- Notable Investments: Khatabook, Teachmint, Open
What's Next for Nova Benefits?
The requested information about the future of Nova Benefits, including opportunities, future fundraising, and challenges, was not found in the provided sources. The sources either contained minimal content or were illustrative pages without specific details about Nova Benefits.
Therefore, it is not possible to write a section covering what's next for Nova Benefits based on the provided sources. For accurate and detailed insights, additional sources with relevant information would be required.
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