Bengaluru-based employee healthcare platformc has successfully closed its $45 million Series B funding round.
The investment was led by private equity firm Creaegis, with participation from existing investors such as International Finance Corporation, Quona Capital, and Nexus Venture Partners.
Purpose of the Fundraising
Onsurity plans to utilize the funds to launch new digital offerings, expand its product lines, and strengthen the ecosystem of financial and healthcare solutions for India’s small and medium enterprises (SMEs).
The company aims to enhance its technology capabilities, ensuring a smoother and more efficient experience for businesses using its platform.
Previous Funding and Growth
Prior to this Series B funding, Onsurity raised $24 million in the first tranche of its Series B round in October 2023.
Since then, the company has seen rapid growth, securing its position as a key provider of healthcare solutions for SMEs in India.
What Does Onsurity Do?
Founded by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based healthcare services that businesses can extend to their full-time employees, contractors, interns, and consultants.
The startup also provides business insurance products, including cyber insurance, D&O liability insurance, and commercial general liability insurance, through its subsidiary.
Impact and Expansion
Over the past four years, Onsurity has onboarded more than 8,000 companies and impacted the lives of over 1.5 million people across 26 states and 3 union territories in India.
With the new funds from the $45 million Series B round, the company aims to scale its operations even further and reach 50,000 companies and 5 million lives by 2026.
Also Read: Way2News Raises $14 Million in Series B Funding Round
Conclusion
By successfully closing its $45 million Series B round, Onsurity has solidified its position as a leading healthcare platform for Indian SMEs.
The company’s focus on technology-driven solutions and its commitment to providing accessible healthcare and financial solutions continue to drive its growth and innovation in the sector.
