Total amount raised
$11 Million
Latest funding date
05/01/2022
Location
Nova Benefits has successfully raised funding over four rounds, with SHL Capital and AngelList among its notable investors. The latest funding round was a Venture - Series Unknown, showcasing continued interest and support from the investment community.
Keep reading to explore the intricacies of Nova Benefits' fundraising journey and the investors backing this innovative employee wellness platform.
What Is Nova Benefits?
Nova Benefits is an employee wellness platform based in Bengaluru, Karnataka, India. The company specializes in providing health insurance plans for employees and their families, operating within the Employee Benefits, Health Insurance, Insurance, and InsurTech industries.
Founded with the mission to simplify health benefits for both employees and employers, Nova Benefits has grown to employ between 101-250 people. The platform is trusted by over 500 teams and serves more than 200,000 individuals, offering a range of services including group health insurance, telehealth, and mental wellness solutions.
How Much Funding Has Nova Benefits Raised?
- Seed Round
- Amount Raised: USD 1,000,000
- 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 the initial platform offerings and secure early market traction.
- Series A
- Amount Raised: USD 10,000,000
- Date: September 2021
- Lead Investors: Bessemer Venture Partners, Susquehanna International Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities to serve a larger customer base.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: AngelList
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To attract strategic investors and gain additional market insights.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: SHL Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's reach and improve service offerings.
Total Amount Raised: USD 11,000,000
Current Valuation: Not publicly disclosed
Key Investors
- SHL Capital
- Details: SHL Capital is a venture capital firm led by Sahil Lavingia. The firm focuses on early-stage investments and has a reputation for supporting innovative startups.
- Investment Focus Areas: Technology, SaaS, FinTech
- Notable Investments: Gumroad, Lambda School, HelloSign
- AngelList
- Details: AngelList is a platform that connects startups with investors. It is known for its extensive network of angel investors and venture capitalists.
- Investment Focus Areas: Startups, Technology, FinTech
- Notable Investments: Uber, Stripe, Robinhood
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm with a history of investing in transformative companies. They have a global presence and a diverse portfolio.
- Investment Focus Areas: Cloud Computing, Healthcare, Consumer
- Notable Investments: LinkedIn, Shopify, Pinterest
- Susquehanna International Group
- Details: Susquehanna International Group (SIG) is a global quantitative trading firm. They also invest in private equity and venture capital.
- Investment Focus Areas: FinTech, Technology, Healthcare
- Notable Investments: ByteDance, Klarna, Payoneer
- Better Capital
- Details: Better Capital is an early-stage venture capital firm based in India. They focus on investing in startups that have the potential to disrupt traditional industries.
- Investment Focus Areas: FinTech, SaaS, Consumer
- Notable Investments: Khatabook, Teachmint, Open
What's Next for Nova Benefits?
Refusal: The user has requested a storytelling section based on information from the provided sources. However, the sources do not contain any specific information about opportunities, future fundraising, industry trends, growth opportunities, challenges, or predictions for Nova Benefits. Therefore, it is not possible to fulfill the user's request accurately based on the provided sources.
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