Plum, an insurtech startup, has successfully raised ₹193 Cr (approximately $20.6 Mn) in its Series B funding round. The investment was led by Peak XV Ventures, with contributions from Tanglin Venture Partners and GMO Venture Partners.
The funds will be allocated towards:
- Talent acquisition
- Technology investments
- Enhancing enterprise-grade security
- Developing AI-driven claims operations
- Integrating more deeply with HR and payroll systems
Plum aims to improve the overall employee healthcare experience and expand its offerings beyond claims to include:
- Preventive care
- Primary care
- Mental wellness
- Telehealth services
According to cofounder and CEO Abhishek Poddar, this funding round will enable Plum to accelerate its growth and broaden its platform within the healthcare and employee benefits sectors.
The startup reports that this funding comes after achieving its first full year of EBITDA and cash flow profitability.
Founded in 2019 by Poddar and Saurabh Arora, Plum operates as a B2B insurtech platform, providing insurance and well-being benefits to SMEs and startups. Currently, it serves over 6,000 organizations, including notable names like Zomato, Swiggy, Atlassian, and CRED.
To date, Plum has raised a total of $20.6 Mn and counts Sequoia Capital, Tanglin Venture Partners, Incubate Fund, and others among its investors.
In July 2025, Plum announced plans to invest ₹200 Cr to further expand its health services, including a new offering called Plum Health, which will provide diagnostics, teleconsultations, and health tracking solutions.
