The fundraise comes after Plum’s first full year of earnings before interest, tax, depreciation, and amortisation (Ebitda) and cash flow profitability, marking an important milestone as the company scales its platform across insurance, healthcare, and employee wellbeing.
Plum will use the new capital to invest in talent, technology, enterprise-grade security, AI-driven claims operations, and deeper integrations with HR and payroll systems, while continuing to improve the employee healthcare experience end to end.
“We made a decision on day one that our north star would be the claims experience, and that everything else would follow from getting that right,” said Abhishek Poddar. “Six years in, that belief has shaped the product, the business, and the outcomes we have delivered for customers. This round gives us the capital to move faster on what we know works, while expanding the platform across healthcare and employee benefits.”
While claims are often the most frustrating part of the process, the company has focused on making them faster, simpler, and more reliable for employees and their families.
That focus has delivered results at scale. Since launch, Plum has processed more than 500,000 claims while improving key metrics. Median cashless hospital discharge time has dropped to 47 minutes from 180 minutes in 2019, beating an industry benchmark of 90 minutes. Reimbursement turnaround time has improved to 1.5 days from 25 days, compared with 12 days across the industry.
Automation has also increased, with 78 per cent of claims resolved without human intervention, up from 34 per cent in 2022 and well above the industry norm of under 20 per cent. The company also challenges denied claims, with 88 per cent of disputes resulting in payouts, recovering more than ₹10 crore in the past year.
“Plum has reimagined employee health insurance by focusing on one of the moments that matters most to users: the claim,” said GV Ravishankar, managing director, Peak XV. “The team has built a fundamentally better product and customer experience, from onboarding and coverage design to claims resolution. We believe its product depth and operational discipline position it to define the future of employee benefits in India.”
Plum is also expanding beyond claims into preventive care, primary care, mental wellness, and telehealth, helping employers offer a more holistic healthcare experience to their teams.
Today, Plum serves more than 6,000 organisations across India, including CRED, Meesho, PhonePe, Swiggy, Tata CLiQ, Urban Company, WeWork, and Zomato, reflecting its growing reach across both fast-growing startups and larger enterprises.
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