Startup Akincare Raises $15 Million

Akincare is a personalized, full-stack customizable health benefits platform that helps employers design a health benefits package that best suits the needs of employees and their families.

The startup intends to use the new capital to accelerate growth and provide employers with a simpler healthcare and insurance experience.

Kiran Kalakuntala, Co-Founder, Akincare said, “We expect to grow another 3x after this round. In the post-pandemic world, employee welfare has increasingly become the focus of every employer’s strategy. Our patented platform considers behavioral data and uses it to personalize an employee’s health benefits journey, resulting in higher benefit adoption, employee engagement and improved health outcomes. The longitudinal depth of this information is helping payers better reduce health risks, making healthcare affordable for employers.”

According to a study by Redseer, the corporate health and wellness market in India is worth $7 billion and is expected to grow at a compound annual growth rate (CAGR) of 20%. However, the market remains highly fragmented and employers often find it very difficult to work with multiple partners such as diagnostic centers, insurance companies and other healthcare firms. Akincare addresses this issue by integrating with thousands of healthcare providers across insurance, hospitals, diagnostics, teleconsultation providers, e-pharmacy and mental health.

With an industry leading Net Promoter Score, or number of customers who are likely to recommend your products or services to someone else, of 80%, ekincare is growing at a CAGR of 150%.

The startup’s customer base includes Fortune 500 companies such as S&P Global, Target, ThyssenKrupp, Allstate, as well as fast-growing startups such as Airbnb, Xpress Bees, Nykaa, Flipkart and SMEs.