Led · Equity · Mar 2018

HealthAssure aggregates primary healthcare services and OPD insurance, productising an HMO ecosystem it has built over 10 years across 1,200 cities. The company says it has serviced more than three million customers and works with insurers including LIC, SBI Life, Niva Bupa, Care Insurance and ICICI Prudential. It also provides employee health benefits to corporates such as GE, Deloitte, Deutsche Bank and Pearsons, and designs first‑in‑market OPD insurance for individual customers. HealthAssure plans to deploy the new funds into product enhancement, strengthening distribution, sharpening the OPD insurance network, and investing in futuristic primary‑healthcare technology. The startup is targeting the $40 billion OPD and insurance market in India and states an immediate total addressable market of $3 billion. Management says it aims to grow revenue tenfold within the next three years and has previously raised Rs 220 million; it also recently acquired fitness startup FitMeIn. HealthAssure is a health-technology company focused on primary care and the consumerization of healthcare. The company described its journey as eight years of work on healthcare consumerization. It announced a $2.5 million Series A investment from Blume Ventures. The LinkedIn post thanking Blume Ventures tagged several individuals associated with the company and investors. The article does not disclose revenue, user metrics, location, founding year, or additional financial details. The investment was presented as an endorsement of the company’s progress in health technology and primary care. HealthAssure operates a health-tech platform providing access to 3,100 primary care centres across 1,000 cities and connecting insurers and corporate clients. The company has serviced one million customers through its B2B model and works with insurers and employers including Apollo Munich, Max Bupa, Cigna, ICICI Prudential, Royal Sundram, L’Oréal, FedEx, Deloitte, and Max Life. It plans to invest $15 million to strengthen its primary care network and product capabilities and is looking to raise an additional $10 million this year to fuel expansion. Management says funds will be used to develop new consumer products in primary healthcare, digitise the ecosystem, and build extensive distribution. The company has already hit profitability. HealthAssure was started in 2011 and is based in New Delhi.