ClaimBuddy, a healthtech startup, has raised US$ three million (INR 21 crores) in a pre-series A round of investment. The round was co-led by Chiratae Ventures and Rebright Partners. Existing investors like Titan Capital and Relentless Ventures, including other private investors, also participated in the round.
Claimbuddy is a healthcare startup which provides a digital infrastructure to hospitals for their patients’ health insurance claims. Established by IIM-Bangalore alumni, the startup acts as a one-stop solution for insurance claims’ processing by leveraging technology and strong operations.
It provides tech and financing solutions to the hospitals and doctors which improves their operational & financial efficiency by at least 30 per cent along with an improved patient experience. The company has processed claims of more than 100 crores and is working with120+Hospitals. Speaking on occasion, Khet Singh, Co-founder, ClaimBuddy, who started claimbuddy in his second year of MBA, said, “The investment and our new partnership with Chiratae and Rebright is a powerful endorsement to our vision, strategy and solution which we aim to deliver to the health insurance industry. ClaimBuddy has witnessed 10x growth over the past year and with the help of the funding amount we look forward to accelerating the company’s effort for smoother claim assistance.”
Ajit Patel, Co-founder, ClaimBuddy said, “For the past one and a half year we have dedicatedly focused on solving the claim process. We are very much excited about the investment since it will help in the company’s growth in key markets. With this investment we are looking ahead to provide best support to hospitals and partner doctors who are associated with us.”
Talking about their investment, Ranjith, MD, Chiratae Ventures added,“This investment is driven from a challenging personal experience. A friend needed almost 10 hours after receiving the discharge summary to actually get discharged from the hospital. This is not an uncommon experience for patients despite choosing empanelled hospitals. Claimbuddy’s combination of technology and process can enhance the patient experience multifold, at the same time making the workflow efficient across all stakeholders.”
Brij Singh, General Partner, Rebright Partners said, “The current in-patient experience is broken especially during the claim processing and settlement. ClaimBuddy can improve this by providing a cashless-claim experience at hospitals by leveraging their technology and operational excellence; we are excited to back Khet and Ajit in this journey and build it out together.”