Loop, a healthcare and insurance business, has received a $25 million Series B round of funding. General Catalyst and Elevation Capital (previously Saif Partners) co-led the round, which also included Vinod Khosla & Khosla Ventures, Sierra Ventures, and a new investor, Optum Ventures.
“GC and Elevation are likely to co-lead a new round worth about $25 million in Loop Health,” said one of the persons cited above on the condition of anonymity. “Some of the existing backers including Khosla Ventures will also participate in this round.”
Mayank Kale, Ryan Singh, Amrit Singh, and Shami Raj created the Pune-based startup in 2018 with the goal of providing group health insurance policies from reputable insurers to businesses, with virtual care experience as the cherry on top.
In addition, Loop provides supplemental health benefits to companies that purchase health insurance from them.