Plum Raises ₹193 Crore in Series B Led by Peak XV to Expand Employee Health Benefits

Overview

• Plum closed a ₹193 crore Series B led by Peak XV Partners, with Tanglin Venture Partners and Japan-based GMO Venture Partners participating.
• The company says the money will go to hiring, technology upgrades, enterprise-grade security, AI-run claims handling, and deeper integrations with HR and payroll systems.
• Plum plans to broaden its offering beyond insurance claims into preventive care, primary care, mental wellness, and telehealth for employer clients.
• The startup reports its first full year of EBITDA and cash-flow profitability and cites 5 lakh-plus claims, a 47-minute median cashless discharge, 1.5-day reimbursements, and 78% of claims resolved without human intervention.
• Plum says it serves more than 6,000 organisations including Zomato, Swiggy, and other large employers, and the round lifts disclosed funding to about $20.6 million, pointing to growing investor interest in India-focused B2B insurtech.