HealthAssure Pumps In $1 million from The HR Fund

HealthAssure, the Primary healthcare services provider has confirmed a fundraise of million dollars in pre-series A from The HR Fund. The latest Investment was facilitated by Candle Advisors, a Mumbai based investment banking, and advisory services firm.

HealthAssure founded in 2011 by Varun Gera, former CEO of United Healthcare and currently operates a network of 3100 primary care centres offering services such as dental, paediatric, opthalmology and diagnostics across upwards if 1000 cities in India.

The company’s technology platform helps discover centres and doctors in their vicinity, allows booking appointments and deliver medical reports online.

Varun Gera, CEO and Founder, HealthAssure said, “We will use the funds to expand our networks, IT infrastructure, develop new products and sales and distribution platform.”

The company also runs a B2B arm wherein it works with insurance companies and over 100 corporates including Apollo Munich, Max Bupa, Cigna, ICICI Prudential, Royal Sundaram, Loreal, FedEx, Deloitte, Max Life Insurance among others.

The HR Fund  which was launched in 2012 is Rs. 50 crore fund focussed on investments in startups focussed on solutions for workforce management. The fund has made six investments yet in businesses such as People Matters, Knolscape, and Sheroes.

Last year, HR Fund had Cancelled its investment in Gurgaon based PeopleStrong with private equity firm Multiples Alternate Asset Management buying a majority stake in the company for $61 million.