Insurtech Startup Plum Secures ₹193 Crore in Series B to Expand Platform and AI Capabilities

Bengaluru-based insurtech startup Plum has raised fresh capital as it continues to strengthen its position in the employee health benefits segment.  

The funding reflects growing investor interest in platforms that combine insurance services with technology-driven healthcare solutions. 

Funding and Growth Strategy 

The company has secured ₹193 crore in a Series B round led by Peak XV Partners, with participation from both existing and new investors.  

The capital infusion is expected to accelerate Plum’s next phase of growth, particularly in enhancing its technology backbone and operational capabilities. 

A significant portion of the funds will be directed towards improving its claims processing infrastructure through artificial intelligence, alongside building stronger security systems and expanding its workforce.  

The company is also focusing on improving integrations with enterprise systems, making it easier for organisations to manage employee benefits seamlessly. 

According to management, the company’s long-term focus remains on improving the claims experience, which continues to be a key differentiator in the competitive insurtech space. 

Business Expansion and Market Position 

Founded in 2019, Plum offers a platform that enables companies to provide insurance and healthcare services to their employees. Over time, it has built a sizeable client base across startups and large enterprises, positioning itself as a key player in the segment. 

The company is now expanding its healthcare offerings beyond insurance to include areas such as preventive care, mental wellness and telehealth services.  

This broader approach reflects a shift towards integrated employee wellbeing solutions rather than standalone insurance products. 

With improving operational efficiency and a growing customer base, Plum is focusing on scaling sustainably while strengthening its presence in the evolving insurtech ecosystem. 

Read More: Fullife Healthcare Raises ₹300 Crore in Series D Funding Led by Elev8! 

Conclusion 

Plum’s latest funding round highlights its focus on technology-led growth and expanding healthcare solutions, as it continues to build a comprehensive platform for employee benefits. 

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