ClaimBuddy receives $3 million investment, aims to make health insurance more accessible

Chiratae Ventures and Rebright Partners spearheaded the investment round, and other private investors such as Titan Capital and Relentless Ventures also took part to bring the total investment value of ClaimBuddy to $3 million. This development was met with positive anticipation from the stakeholders of both parties involved. Personal experiences and the present scenario of the healthcare system drove this investment.

Ranjith, MD, Chiratae Ventures, stated that the investment in ClaimBuddy was born out of a personal experience and trust in ClaimBuddy’s “combination of technology and process enhancing the patient experience multifold, and at the same time making the workflow efficient across all stakeholders.”

Brij Singh, General Partner, Rebright Partners, also mentioned that the present condition of insurance processing and settlement process requires a massive upgrade, especially for in-patients. He stated that this problem can be solved by ClaimBuddy through “cashless-claim experience at hospitals by leveraging their technology and operational excellence”.

ClaimBuddy has been attempting to upgrade the insurance claim ecosystem for the past one and half years with its innovative solutions. After their previous round of funding, wherein they raised an undisclosed sum from Titan Capital and other investors, they are now expecting growth in key markets based on the total amount raised.

Khet Singh, a co-founder of the startup, mentioned that last year they witnessed 10x growth; and now they have a ‘powerful endorsement’ from Chiratae and Rebright to support their vision.

Claimbuddy is the brainchild of Bangalore-based IIM alumni. Within a short span of time, it has emerged as the single solution for health insurance claims in hospitals. Primarily it offers tech and finance solutions to both hospitals and doctors. Since its inception, the operational and financial efficiency of doctors has improved by 30%.

Besides that, there has been a drastic difference in the overall patient experience. They are offering their services to over 120 hospitals and plans to grow massively in the not-so-distant future.

This might just be the start of an evolution in the healthcare ecosystem!