loop health: insurance start-up Loop Health raises $ 12 million

CHENNAI: Loop Health, a Pune-based health insurance startup, has raised $ 12 million in a Series A round co-led by Elevation Capital and General Catalyst. The cycle also saw the participation of investors including Khosla Ventures, led by Vinod Khosla in Silicon Valley, YC Continuity Fund and Tribe Capital. Angels including Amit Kumar Agarwal (Founder and CEO, NoBroker), Ramakant Sharma (Founder and COO, Livspace), Vidit Aatrey and Sanjeev Barnwal (Co-Founders, Meesho) and others have also invested.
Founded in 2018 by Mayank Kale, Ryan Singh, Amrit Singh and Shami Raj, Loop Health offers group health insurance plans of leading insurers to businesses, ranging from startups to large corporations, coupled with a virtual experience of care. primary thanks to an internal medical team. and the network of other service providers.
The company will use the fresh funds to grow business and sales, focus on product development through personalized insurance products (including wellness) and physical health care clinics, and drive recruitment. strategic, mainly in the sales and engineering sectors.
The startup claims to have experienced significant growth, securing more than 50,000 members in 150 companies in the past 12 months and growing by 50% month over month. Loop targets covering one million members by the end of 2022 and five million members in Southeast Asia over the next five years.
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