Plum Raises Funding $15.6M In Series A Round Led By Tiger Global
- ByStartupStory | May 31, 2021
Bengaluru based employee health insurance startup, Plum raises funding $15.6 million in Series A funding led by Tiger Global, funding round also saw participation from earlier investors, Sequoia Capital India’s Surge, Tanglin Venture Partners, Incubate Fund and Gemba Capital. In this round of Plum raises funding Angel investors, including Kunal Shah (Founder, Cred); Gaurav Munjal, Roman Saini, and Hemesh Singh (Founders, Unacademy); Lalit Keshre, Harsh Jain, and Ishan Bansal (Founders, Groww); Ramakant Sharma and Anuj Srivastava (Founders, Livspace); and Douglas Feirstein (Founder, Hired) also participated.
Plum raises funding to further scale its engineering, business development, and operations teams. Plum is building newer insurance products for SMEs who have teams as small as seven employees and cannot afford to pay annual premiums.“Plum aims to reach a milestone of 10 million lives insured by 2025 by changing the employee health insurance space. With Plum, we are making the process transparent, affordable, and easy, using tech at scale. The adoption of health insurance by startups, SMEs, and corporates is increasing exponentially, and is further accelerated by the ongoing COVID-19 pandemic,” Abhishek Poddar, Co-founder and CEO, Plum, said in regard to Plum raises funding and how it will be using the funds.
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