Ekincare has raised $15 million from HealthQuad and Sabre Partners. Existing investors Ventureast, Eight Roads Ventures, Siana Capital and Endiya Partners also participated in the latest round of capital raising. The company will utilise the capital to help accelerate growth via marketing, branding and adding products. The funds will allow the company to introduce and experiment with new products like health financing, lasik surgery and infertility treatment financing. “Companies are saving costs on real estate, cafeteria and transportation. The human resources department struggles to engage with employees, and health has dual benefits,” Kiran Kalakuntla, co-founder, Ekincare said.

Founded in 2014 by Kiran Kalakuntla and Srikanth Samudrala, Ekincare is a personalised, full-stack health benefits platform. The platform is made to help employers design a health benefits package that best suits the needs of their employees and their families. The company currently serves around 1.5 million employees across 410 companies. The company’s annualised revenue run rate has grown 3.5x in the last 12 months.

The corporate health and wellness market in India is worth $7 billion and is expected to advance at 20 per cent CAGR, according to the Corporate Health and Wellness Market. However, the market remains highly fragmented in India, and employers often find it very difficult to work with multiple partners like diagnostic centres, insurance companies and other healthcare players. Ekincare’s benefits platform resolves this issue by integrating with thousands of healthcare service providers across insurance, hospitals, diagnostics, teleconsultations providers, e-pharmacy, and mental wellness.