Healthcare technology startup Onsurity has raised $16 million in a Series A funding round led by fintech investor Quona Capital and existing investors Nexus Venture Partners and Whiteboard Capital. The company offers healthcare-related services for SMEs and startups.
Onsurity will use the fresh monies for continuing to build its healthcare platform and offerings. The company offers a self-serve platform that enables organizations to purchase flexible and customized health benefit subscriptions for their staff within minutes. It was founded by Yogesh Agarwal and Kulin Shah last year.
The company’s Founder & CEO Yogesh Agarwal said that tech has enabled healthcare to accelerate diagnosis as well as improve patient care. But, it has largely overlooked the issues of onboarding and tedious and cumbersome benefits access.
Kulin Shah, the company’s Co-founder added that Onsurity’s has taught it that startups and small businesses struggle to find the right employee healthcare plan. This process, he said, is time-consuming and expensive. Besides, health benefit plans often deliver a poor customer experience during hospitalization, and claims are put forward. Onsurity is closing a big gap swiftly by delivering a digital-first and hassle-free product to bring an unparalleled positive customer experience.
Quona Capital’s Managing Partner & Co-founder Ganesh Rengaswamy said that despite the presence of various intermediaries providing health insurance and benefits in the country, affordable access to healthcare benefits, which is a critical part of financial resilience evades working people and small businesses.