HealthAssure Secures $6 Mn+ To Widen Its OPD Insurance & Distribution Channel

SUMMARY

Blume Ventures, Leo Capital and some family offices as well as HNIs participated in the round

HealthAssure plans to use the funds to develop product, strengthening its distribution network and the OPD insurance network

Including the current fundraising, HealthAssure has secured $9.7 Mn to date

Healthtech startup HealthAssure has secured INR 50 Cr ($6.2 Mn) in its Pre-Series B funding round led by the Rajiv Dadlani Group.

Blume Ventures, Leo Capital and some family offices as well as HNIs also participated in the round.

HealthAssure plans to use the funds to develop product, strengthening its distribution network and the OPD insurance network. The startup will also invest in building its primary healthcare technology.

“We have tracked HealthAssure’s growth journey for a while. HealthAssure’s team has a strong pedigree and rich experience, they are well poised to be a leading brand in the healthtech and insurtech industry. We are excited to partner as long-term investors, and support them in their journey,” said Rajiv Dadlani, from the family office of the Rajiv Dadlani Group.

Including the current fundraising, HealthAssure has secured $9.7 Mn from investors to date.

Founded in 2011 by Varun Gera, HealthAssure is a primary healthcare aggregator. Its offerings include lab tests, online doctor consultations, at-home doctor visits and gym and wellness classes, among others to corporates and individuals.

In 2019, HealthAssure secured $2.5 Mn Series A funding from Blume Ventures. Prior to this, it bagged $1 Mn from The HR Fund in 2018.

HealthAssure claims to have a wide network of 6,500 healthcare facilities set up across 1,200 Indian cities. It further asserts to have delivered services to over 3 Mn individuals and corporate customers since its inception.

HealthAssure counts LIC, SBI Life to Niva Bupa, Care Insurance, ICICI Prudential, GE, Deloitte, Deutsche Bank, Pearsons as its customers. It aims to reach 10x of its current revenue in the next three years.

In India’s healthtech segment, it competes with the likes of Pristyn Care, Eka Care and Orange Health.

As per a report, the country’s healthtech industry is projected to become a $21.3 Bn market, growing at a CAGR of 39.6% by 2025.

Recently, a slew of major developments has occurred in the healthcare industry including PharmEasy withdrawing its DRHP from SEBI, MFine merging with LifeCell’s diagnostic arm and MediBuddy acquiring Clinix.