Ekincare Raises $15 M In Series B Funding
Health benefits startup, ekincare has raised $15 million in a Series B funding round led by HealthQuad and Sabre Partners along with participation from existing investors Ventureast, Eight Roads Ventures, Siana Capital and Endiya Partners. The startup intends to use this fresh funding to help accelerate growth and deliver simplified health benefits and insurance experience to employers.
Ekincare is a personalised, full-stack health benefits platform. The platform is built to help employers design a health benefits package that best suits the needs of their employees and their families.
“We expect to grow by another 3 folds post this round. In a post-pandemic world, employee wellbeing has increasingly become the focal point of every employer’s strategy. Our patented platform considers behavioral data and uses it to personalize an employee’s health benefits journey, resulting in higher benefits adoption, employee engagement, and better health outcomes. The longitudinal depth of this information is helping payers underwrite health risks better, in turn making healthcare affordable for employer,” said Kiran Kalakuntla, Co-founder, Ekincare.
The corporate health and wellness market in India is worth $7 billion and is expected to grow at 20 per cent CAGR according to the Corporate Health and Wellness Market study by Redseer. However, the market remains highly fragmented in India and employers often find it very difficult to work with multiple partners such as diagnostic centers, insurance companies and other healthcare players. ekincare’s benefits platforms resolves this issue by integrating with thousands of healthcare service providers across insurance, hospitals, diagnostics, teleconsultations providers, e-pharmacy and mental wellness.
