HealthAssure, India’s leading healthtech company aggregating primary health care services and OPD insurance, raises Rs 50 crore in a Pre-Series B funding round led by the Rajiv Dadlani Group and saw participation from Blume Ventures, Leo Capital, a US-based impact fund, reputed Family Offices and High Networth Individuals.
The company intends to deploy these funds into enhancing their product, strengthening distribution, sharpening their OPD insurance network and investing in futuristic primary healthcare technology.
HealthAssure is targeting the massive $ 40 billion OPD and Insurance market in India by ‘productizing’ the largest HMO ecosystem of primary care.
Varun Gera – Founder & CEO said, “Raising our largest round yet in such difficult market conditions, displays the confidence which our existing and new investors have in our unique business model and the potential of the large healthcare market ripe for disruption. This motivates us to build further on our assets, capitalise on the opportunity and solidify our leadership position in the market. We would like to thank our newest backers and Blume for being part of our fulfilling startup journey.”
Rajiv Dadlani, from the Family Office of the Rajiv Dadlani Group, said “Varun and the HealthAssure team, have a strong pedigree and rich experience and having built a strong foundation, they are well poised to be a leading brand in the Healthtech and Insuretech industry. We are very excited to partner as long-term investors, and support them in their journey.”
HealthAssure has been the first-to-market to launch innovative insurance-underwritten OPD products, has a large existing business portfolio and doubled its revenues Y-o-Y. The company has raised Rs 22 crore so far, through its previous funding rounds and more recently also acquired fitness start-up FitMeIn.
Since 2011, the company has serviced more than 3 Million customers and has several lines of businesses serving most insurers in the market from LIC, SBI Life to Niva Bupa, Care Insurance and ICICI Prudential and more for their primary care needs, providing Employee Health Benefits, to some of the leading Corporates like GE, Deloitte, Deutsche Bank, Pearsons and more and finally, designing ‘First-in-Market’ OPD insurance for individual customers.
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