ClaimBuddy raises $3 mn in pre-series A round of investment

ClaimBuddy, a healthtech startup, has raised $3 million (INR 21 crore) in a pre-series A round of investment. The round was co-led by Chiratae Ventures & Rebright Partners. Existing investors like Titan Capital & Relentless Ventures, including other private investors, also participated in the round.

The startup, which provides a digital infrastructure to hospitals for their patients’ health insurance claims, said that it has processed claims of more than 100 crores and is working with 120+ Hospitals.

Speaking on the occasion, Khet Singh, co-founder, ClaimBuddy 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.”