How Much Did Onsurity Raise? Funding & Key Investors

Onsurity has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of healthcare and wellness services tailored for small businesses.

Keep reading to explore the intricacies of Onsurity's fundraising journey and the investors backing this innovative platform.

What Is Onsurity?

Onsurity, founded in February 2020 by Kulin Shah and Yogesh Agarwal, is headquartered in Bengaluru, Karnataka, India. The company specializes in providing monthly healthcare memberships with group health insurance tailored for small businesses.

With a workforce of 251-500 employees, Onsurity offers a range of technology-based products and services. These include discounts on medicine orders, health check-ups, fitness rewards, and doctor teleconsultation, all aimed at enhancing employee wellness.

Onsurity's innovative platform is designed to offer SMEs and startups a comprehensive suite of healthcare and wellness services, ensuring that even small teams can access quality healthcare benefits.

How Much Funding Has Onsurity Raised?

1. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: April 5, 2020
   • Lead Investors: Nexus Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
2. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: April 1, 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
3. Series A
   • Amount Raised: $16M
   • Date: August 3, 2021
   • Lead Investors: Quona Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and increase market penetration.
4. Angel Round
   • Amount Raised: Not publicly disclosed
   • Date: October 7, 2022
   • Lead Investors: Anil Kumble
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To gain strategic advice and support from experienced investors.
5. Series B
   • Amount Raised: $24M
   • Date: October 9, 2023
   • Lead Investors: International Finance Corporation
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support growth and expansion plans.
6. Series B
   • Amount Raised: ₹2.2B (approximately $26.4M)
   • Date: September 13, 2024
   • Lead Investors: Creaegis
   • Valuation at Round: ₹1,032 crore (approximately $124M)
   • Motivation Behind the Round: To fuel growth, expansion, and enhance technology infrastructure.

Total amount raised: $66.4M. Current valuation: $124M.

Key Investors

• Creaegis
  • Details: Creaegis is a private equity firm that led Onsurity's latest funding round. They focus on investing in companies offering digital and technology-enabled solutions.
  • Investment Focus Areas: Healthcare, technology, logistics.
  • Notable Investments: Third Wave Coffee, Doceree, Medikabazaar.
• International Finance Corporation (IFC)
  • Details: IFC is a member of the World Bank Group, investing in private sector projects in developing countries. They aim to drive economic development through their investments.
  • Investment Focus Areas: Infrastructure, manufacturing, agribusiness.
  • Notable Investments: Not publicly disclosed.
• Nexus Venture Partners
  • Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies. They have a strong presence in the technology and internet sectors.
  • Investment Focus Areas: Technology, financial services, healthcare.
  • Notable Investments: Not publicly disclosed.
• Quona Capital
  • Details: Quona Capital focuses on fintech companies that aim to improve financial inclusion in emerging markets. They participated in Onsurity's Series A and Series B rounds.
  • Investment Focus Areas: Fintech, financial inclusion, emerging markets.
  • Notable Investments: Not publicly disclosed.
• Anil Kumble
  • Details: Anil Kumble is a former Indian cricketer and current investor. He participated in Onsurity's angel round, providing strategic advice and support.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Not publicly disclosed.

What's Next for Onsurity?

Onsurity is poised to capitalize on the burgeoning demand for digital healthcare solutions tailored to SMEs. With plans to expand its client base to 50,000 companies by 2026, the company is well-positioned to become a leader in India's healthcare tech industry. The recent $45 million Series B funding round, led by Creaegis, will fuel the launch of new digital product lines and enhance technology infrastructure, setting the stage for significant growth.

Future fundraising opportunities seem promising as Onsurity continues to scale. The company may attract further investments to support its ambitious expansion plans and product development. However, challenges such as competition, regulatory hurdles, and maintaining service quality amid rapid growth could pose obstacles. Navigating these challenges will be crucial for Onsurity's sustained success.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Onsurity and gather other critical business insights. Sign up for free today and unlock the potential of data-driven decision-making.