Nova Benefits, a B2B health insurance platform, has reportedly secured $1 million through its latest seed round, which was led by Multiply Ventures, Better Capital and Titan Capital. Founded in 2020, Nova Benefits claims to be the one stop tech platform for providing the “best” health and wellness benefits to employees.
“Our product includes the following (1) Recommendation engine to help companies select the best health benefits for their employees (2) Employee experience portal to access their benefits Nova is built by founders from IIT-Bombay and IIT-Delhi, who have been part of Y-Combinator, Accel, Samsung Korea & BCG. We are backed by top VC investors from the country.”
Saransh Garg, Co-Founder and CEO of Nova Benefits, shared more details about the company with Mint:
“Through process improvements like doing a document deficiency check at the time of filing a claim, we’ve reduced the average (insurance) claim settlement time by several days. For human resource professionals, within organisations, Nova eliminates redundant processes like monthly addition and deletion of employees by integrating with the human resource management systems like Darwin Box, Greytip, Keka, ZohoHR and several others.”
Funds from the investment round will be used to continue the growth and development of the Nova Benefits’ platform and products.
