Corporate health insurance platform – Nova Benefits has secured USD 1 million in the latest funding round. The seed funding round was led by Titan Capital, Multiply Ventures and Better Capital.
The round also saw participation from angel investors – CEO of Rupeek Gold Loans – Sumit Maniyar and Ashish Goyal, Early Salary co-founder.
“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”, said co-founder and chief executive officer at Nova Benefits – Saransh Garg.
“The company plans to use the capital to integrate with insurance and human resource management system (HRMS) companies, co-create a new category of health insurance products with insurers and expand its engineering and business development efforts,” said a statement made by it.
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