Mumbai-based healthcare aggregator, HealthAssure, has raised $2.5 Mn in Series A funding led by Blume Ventures. The aggregator will use the proceeds to further develop its platform, create sharper products focusing on insurance OPD products, build better data capabilities leveraging AI and ML and strengthen distribution.
Founded in 2011 by Varun Gera, the startup has tie-ups with hospitals, clinics, laboratories, doctors and insurance companies to offer healthcare schemes for corporate employees. It claims to have a network of more than 4,000 primary care centers across 1,100 cities on its platform.
In a statement, Varun Gera, stated, “We are proud to be associated with Blume through this round of funding. Blume has established itself as one of the most vibrant start-up ecosystems in India and we look forward to leveraging their strengths in our journey of consumerizing healthcare. We will be infusing the funds raised in our business to further deepen our technology, build new products, create a more robust distribution network and grow inorganically as well. HealthAssure aims to make quality healthcare easily accessible and affordable for the Indian population and would continue to touch the lives of millions of new customers over the next 2 years.”
The model involves end-to-end management of employee healthcare programmes, assessment of healthcare gaps, and giving corporates access to a high-quality, discounted medical network. At present, the company caters to more than 500K employees across ICICI Prudential, Deloitte, Cigna, Max Bupa, Yahoo, Aditya Birla, and others.
Prior to this round, HealthAssure had earlier raised $1 Mn from The HR Fund.
With the new round of funding, the startup plans to accelerate its business through both organic and inorganic routes for growth across India and Asia Pacific markets. After the Middle East, the company is looking to make a foray in the other South East Asian countries as well.
With corporates spending more on their wellness strategies and moving on from reactive care to preventive care, HealthAssure has its work cut out in the coming years.
HealthAssure is also a gold partner at TechHR India Conference 2019 while Blume Ventures is one of the mentors of the TechHR startup program. Click here to register.