Healthtech startup HealthAssure has raised Rs 50 crore in its Pre-Series B funding round from the Rajiv Dadlani Group.
Other investors including Blume Ventures and Leo Capital, along with a US-based impact fund, reputed family offices and high net-worth individuals, also participated in this round.
The startup plans to use the funds to scale up the product, strengthen distribution, accelerate the OPD insurance network and invest in the primary health technology of the future.
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The Mumbai-based HealthAssure was founded in 2011 by Varun Gera, It is a healthtech startup that aggregates primary health care services and OPD insurance and claims to serve over 3 million customers.
“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”, said, Varun Gera, founder and CEO of HealthAssure.
The startup said it has Life Insurance Corporation (LIC), State Bank of India (SBI) Life, and several lines serving insurance companies for their primary care needs. It also provides employee health benefits to some of the leading corporates like GE, Deloitte, Deutsche Bank and others.
The startup aims to reach 10X of its current revenue within the next three years.
“We have tracked HealthAssure’s impressive growth journey for a while. Varun and the HealthAssure team have a strong pedigree and rich experience and have built a strong foundation; they are well poised to be a leading brand in the healthtech and insurtech industry”, said, Rajiv Dadlani, from the Family Office of the Rajiv Dadlani Group.
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HealthAssure is India’s largest Primary Healthcare aggregator with a comprehensive network of 4,500+ centres, set up across 1,300+ cities. Founded in 2011, it aspires to make healthcare and wellness accessible and comprehensible for both corporates and individuals across the country through it’s endeavour to create a healthier tomorrow.
HealthAssure is consumerising healthcare by designing network-based primary healthcare products. It offers a diverse range of services through a fully integrated, digitized platform that addresses the varying needs of the diverse stakeholders. From finding a healthcare provider to booking an appointment, in-person, online and telephonic doctor consultations, health check-ups, home care services, lab testing, doctor coaches, fitness trainers and gyms – it provides the entire spectrum of primary care experience.
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HealthAssure actively engages with organisations, including Fortune 500 companies for end-to-end management of employees, assessment of healthcare gaps/risks, and providing access to a high-quality, trusted and discounted primary care network. HealthAssure also services top insurance companies to help their customers with pre-policy check-ups and other diagnosis.
In line with the company’s philosophy to cover the journey from ‘Illness to Wellness’, HealthAssure recently acquired FitMeIn – an on-demand fitness subscription service in May 2020. With this, it will integrate the offerings of both the brands under a single umbrella thereby extending their services from primary care to include preventive care through fitness and lifestyle choices.
The company has extended its services to more than 2mn+ customers and targets to serve millions more in the coming year.