Health Benefits Startup Ekincare Raises $15M In Series B Funding
ekincare, an AI-driven health benefits startup, has raised $15 million in a Series B funding round led by HealthQuad and Sabre Partners. The funding round also saw participation from existing investors Ventureast, Eight Roads Ventures, Siana Capital, and Endiya Partners.
As per the startup, it will use the freshly raised funds to help accelerate growth through marketing and branding and add products. Additionally, the funding will help the company introduce and experiment with new products such as health financing, LASIK surgery or infertility treatment financing.
ekincare | Health Benefits Startup
Founded in 2015 by Srikanth Samudrala, Kiran Kalakuntla, and Dr Noel Coutinho, ekincare offers a full stack health benefits platform that is predictive, preventive and personalized.
It uses a data-driven approach to employee wellness, with an AI-powered real-time dashboard giving health analytics, potential risks, and actionable insights about employees’ health.
Commenting on the development, Kiran Kalakuntla, Co-founder of ekincare, said,
“We expect to grow by another 3x 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 behavioural data and uses it to personalise an employee’s health benefits journey, resulting in higher benefits adoption, employee engagement, and better health outcomes.”
The healthtech platform helps companies administer benefits efficiently, optimise their healthcare spending, and show real health outcomes.
As per Ajay Mahipal, Director, HealthQuad, ekincare’s health benefits platform is trusted by 400+ corporates and more than a million of their employees. Its clients include Fortune 500 companies like S&P Global, ThyssenKrupp, Target, as well as fast-growing startups like XpressBees, Nykaa, Airbnb, Flipkart and SMEs.
As per a Corporate Health and Wellness Market study by Redseer, the corporate health and wellness market in India is worth $7 billion and is expected to grow at 20% CAGR.
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