Inflection Point Ventures-backed, HealthySure on Wednesday said that its valuation has climbed to Rs 50 crore after securing additional capital from LetsVenture and its founders.
The insurtech startup, operated by Safetynet Innovations Pvt. Ltd, however, did not disclose the amount raised.
Mumbai-based HealthySure plans to use the fresh money to boost its group health insurance-led offerings to the Indian workforce and their families.
Founded in 2021, by IIM-B alumnus Anuj Parekh and ISB alumnus Sanil Basutkar, HealthySure is an employee welfare platform, targeting small and mid-size enterprises to make insurance and healthcare affordable for their workforce.
The platform offers digitised policy and claim experience with curated health and wellness offerings.
“Participation from our clients, mentors, founders and employees gives us great confidence towards building an impactful business together,” said Anuj Parekh, co-founder and CEO of HealthySure .
“We have seen phenomenal demand for employee health security post-COVID. The company claims to have generated a revenue of over $1 million in less than a year of operations," he added.
We are seeing strong tailwinds in this market and this funding will now allow us to service the huge demand. We foresee 4 times growth and will be covering over 400 organisations in the coming year,” said Sanil Basutkar, co-founder and head of product at HealthySure.
Singapore-headquartered LetsVenture, founded in 2013 by Shanti Mohan and Sanjay Jha, is a platform that enables startups looking to raise early-stage capital to create investment ready profiles online and connect to accredited investors.
In February, HealthySure raised $1.2 million (around Rs 9 crore) as a part of its pre-Series A funding led by Inflection Point Ventures.
In December last, HealthySure secured an undisclosed sum in a pre-Series A funding from We Founder Circle and other marquee investors.