National, 18 January 2024: Healspan, a leading insurance-tech startup specializing in B2B insurance claims management software, has successfully raised ₹1.2 Crore in a pre-seed funding round led by PedalStart, a prominent startup community-builder and accelerator. This marks Healspan’s first institutional fundraising round since its establishment in 2022, bringing its total funding to ₹1.7 Cr through strategic efforts.
Healspan has pioneered claims filing and tracking software that has assisted over 60 hospitals across India in efficiently managing documentation, processing, and queries related to cashless health insurance claims. The pre-seed capital will be instrumental in advancing Healspan’s technology, talent acquisition, and overall business operations. Additionally, the funds will play a crucial role in expanding Healspan’s clientele, boosting subscriptions, and enhancing revenue.
Mr. Sabarinath U and Mr. Abhi Sinha, Co-Founders of Healspan, expressed their excitement about the pre-seed fundraise. They emphasized the significance of these funds in optimizing the front-end of their flagship software, onboarding essential talent, and driving sustainable growth. They reiterated Healspan’s commitment to making healthcare administration effortless by automating and streamlining claims management through SaaS technology.
Mr. Manas Pal and Mr. Aditya Darolia, Co-founders of PedalStart, commented on the transformative impact of technology-based solutions in the insurance market. They highlighted Healspan’s disruptive software for cashless insurance claims processing in hospitals and praised the founders’ vision. PedalStart is committed to providing financial and other support to help Healspan continue its growth trajectory.
The association between Healspan and PedalStart, lasting over six months, has proven instrumental in overcoming business challenges, defining priorities, and building momentum for Healspan’s product. Healspan has experienced a remarkable 4x revenue increase over the last four months, thanks to PedalStart’s support.
Healspan, currently present in major metros and tier 1 cities, plans to expand its presence to more locations across India, aiming to serve at least 1000 hospitals by the end of 2025. While the immediate focus remains on making cashless claim filing and tracking seamless for hospitals and patients, Healspan envisions addressing pain points for insurance and finance industry stakeholders in the long term.