India-based InsurTech company HealthySure has reportedly raised $1.2m in its pre-Series A funding round.
Inflection Point Ventures served as the lead investor, with commitments also coming from We Founder Circle, Dexter Angels, Campus Fund, HEM Angels and others, according to a report from LiveMint.
With this capital boost, the InsurTech company plans to bolster the development of its products to better serve workers and their families. It will also put capital towards hiring more staff.
HealthySure is a unified health insurance program, which offers employees a plethora of coverage options. A user can select a family plan, choose a base sum of insurance and pick a provider. There is a variety of additional benefits that can be added including personal accident cover, term life cover, doctor teleconsultations and dental cover.
Other features include gym session access, mental wellness, medicine ordering, health cover and more.
Speaking on the investment, Inflection Point Ventures co-founder Mitesh Shah told LiveMint, “In this day and age, securing Health insurance for each and every family is imperative as it helps to bear the huge cost of future health concerns which at times can be extremely expensive and unaffordable.
“However, the penetration of voluntary health insurance in India is less than 10% for various reasons like difficulty in understanding the policy, affordability, trust factor, accessibility and so on.”
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