Nova Benefits operates a technology platform that helps companies improve employee wellbeing through corporate health insurance, fitness, mental-health counselling, and broader wellness programmes. The company holds a direct insurance broking license from IRDAI, enabling it to package insurer combinations and coverages for businesses. Nova has onboarded over 150 clients, including Dream11, CoinDCX, Snapdeal, Zenoti, and Yulu Bikes, and reports more than 100,000 users on its platform alongside a reported 10x client growth in one year. Founded in 2020 and based in Bengaluru, the startup says it saw a surge in clients during the COVID-19 pandemic. Management plans to use new funding to expand engineering, product management, sales, and customer-success teams and to build a larger stack of wellness offerings. The company has a stated goal of improving the well-being of 10 million Indians by 2025. Nova Benefits operates an employee benefits platform centered on corporate health insurance. The platform lets users access insurance e-cards, find cashless hospitals, and make claims through Nova Benefits’ interface. In just seven months the company says it has onboarded more than 70 clients with 25,000 members on its platform. Named clients include Snapdeal, Yulu Bikes, Chumbak, Fisdom, and DealShare. Financially, Nova Benefits has raised $1 million in a seed funding round. The seed was led by Multiply Ventures, Better Capital, and Titan Capital.

Total raised

$11M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2021