Onsurity, the employee healthcare platform, has raised Rs 219 crore in a new funding round led by Creaegis. This is as per an exclusive by Entrackr.
The funding round saw the participation of existing investors Nexus Venture Partners and Quona Capital.
As per TheKredible, the start-up data intelligence platform, Onsurity has been valued at around Rs 1,032 crore post-allotment
In its regulatory filings, the board at Onsurity reportedly passed a special resolution to issue 10 equity and 6,302 series B1 CCPs at an issue price of Rs 3,48,089 each to raise Rs 219 crore.
The fresh infusion of funds would reportedly be used for the company's growth, expansion, working capital requirements and general corporate purposes, as decided by the board.
Advertisement
Creaegis oversaw the funding with Rs 176.4 crore while the existing investors Nexus Ventures and Quona Capital pitched in with Rs 31.4 crore and Rs 11.9 crore respectively as per the report.
Following the funding round, Creaegis will reportedly hold 17.10 per cent of the company while Nexus Venture Partners and Quona Capital will command 28.22 per cent and 12.82 per cent, respectively.
Onsurity has raised over Rs 6.6 crores to date including Rs 2.4 crore in a series B round in October last year led by the World Bank’s International Finance Corporation. It raised 1.6 crore in Series A funding in August 2021.
Advertisement
Creaegis' investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.
Insecurity was founded in 2020 by Yogesh Agarwal and Kulin Shah. Customers can avail subscription-based services and offer it to their full-time employees, contractors, interns and consultants. The company's subsidiary offers products including cyber insurance, D&O liability insurance, and commerce general liability insurance, among others.
The company currently works with over 5,000 companies, including Zepto, DBS Bank, Jupiter Money, CleverTap, Porter, Sobha Developers and Pantaloons among others.
