We are pleased to announce our co-investment in Plum, India’s leading employee health benefits and insurance platform, alongside Peak XV Partners (formerly Sequoia Capital India) and Tanglin Venture Partners.
Plum operates a comprehensive platform that brings together digital group health insurance, telemedicine, and preventive care under one roof. While employer-sponsored health coverage is standard across most developed economies, fewer than half of India’s population has access to any form of health insurance, a gap the government is actively working to close by encouraging companies to extend coverage to their employees. Corporate health benefits have thus become both a policy priority and a meaningful lever for talent acquisition in an increasingly competitive hiring landscape.
Yet the industry itself has long been held back by its own infrastructure. Cumbersome, paper-heavy claims processes have historically meant reimbursements taking upwards of 40 days, and the administrative burden of managing group policies has kept meaningful coverage largely out of reach for small and mid-sized businesses.
Plum is dismantling these barriers through technology. By automating underwriting and claims processing with AI, the company has transformed what was once a friction-heavy, analog experience into something far more seamless, making it practical for businesses of any size to offer quality health coverage to their teams and extending meaningful insurance access to segments of the workforce that have historically gone without.
We believe Plum is positioned to become foundational infrastructure for how healthcare is accessed and financed across India. We look forward to supporting the team as they continue to redefine what employer health benefits can look like at scale. (Lead: Makie Shinoto)