MUMBAI :
Well being advantages startup ekincare has raised $15 million in a Collection B funding spherical led by HealthQuad and Sabre Companions together with participation from present buyers Ventureast, Eight Roads Ventures, Siana Capital and Endiya Companions.
ekincare is a customized, full-stack customizable well being advantages platform that helps employers design a well being advantages package deal that most closely fits the wants of staff and their households.
The startup intends to make use of the recent capital to speed up development and ship simplified well being advantages and insurance coverage expertise to employers.
Kiran Kalakuntla, co-founder ekincare, mentioned, “We anticipate to develop by one other 3x submit this spherical. In a post-pandemic world, worker well-being has more and more grow to be the point of interest of each employer’s technique. Our patented platform considers behavioural information and makes use of it to personalize an worker’s well being advantages journey, leading to increased advantages adoption, worker engagement, and higher well being outcomes. The longitudinal depth of this data helps payers underwrite well being dangers higher, in flip making healthcare inexpensive for employers.”
The company well being and wellness market in India is price $7 billion and is predicted to develop at a compound annual development charge (CAGR) of 20%, in response to a research by Redseer. Nevertheless, the market stays extremely fragmented and employers typically discover it very tough to work with a number of companions resembling diagnostic centres, insurance coverage corporations and different healthcare corporations. ekincare resolves this problem by integrating with 1000’s of healthcare service suppliers throughout insurance coverage, hospitals, diagnostics, teleconsultations suppliers, e-pharmacy and psychological wellness.
With an business main internet promoter rating, or the variety of clients which can be more likely to advocate its services or products to another person, of 80%, ekincare is rising at a CAGR of 150%.
The startup’s buyer base consists of Fortune 500 corporations like S&P International, Goal, ThyssenKrupp, Allstate, in addition to fast-growing startups like Airbnb, Xpress Bees, Nykaa, Flipkart and SMEs.
Supply: Live Mint