ekincare plans to hire 300 people: Kiran Kalakuntla
Hyderabad: Health benefits platform ekincare, which helps employers design a health benefits package that best suits the needs of their employees and their families, has plans to increase its head count to about 500 in a year from the current 200, said ekincare co-founder Kiran Kalakuntla. This comes on the back of it raising $15 […]
Published Date - 18 March 2022, 10:13 PM
Hyderabad: Health benefits platform ekincare, which helps employers design a health benefits package that best suits the needs of their employees and their families, has plans to increase its head count to about 500 in a year from the current 200, said ekincare co-founder Kiran Kalakuntla.
This comes on the back of it raising $15 million (about Rs 114 crore) in a Series B funding round from venture capital fund HealthQuad and private equity firm Sabre Partners. Existing investors Ventureast, Eight Roads Ventures, Siana Capital, and Endiya Partners were also part of the funding round.
“We will strengthen our engineering, marketing and sales teams,” said Kiran, adding that more companies are now paying attention to the health of the employees and their family members after Covid impact.
Previously, ekincare had about 150 clients and in two years the number has crossed 400, he said. “Many employees are still working from home and as a result companies are adopting a hybrid model. Some of the companies are saving on real estate costs, cabs and transport, cafeterias and other support services. However, the companies are diverting some of the savings here to offer better health benefits to their employees. Health is on everybody’s mind,” he said about the increasing spend happening from the companies towards health benefits of their respective employees.
Employers have first paid for the vaccinations of the employees. They have now started offering health checkups, e-pharmacy, gyms and fitness club memberships, access to telemedicine, mental health and wellbeing sessions and more apart from fortifying their group insurance schemes, he said.
Among other things, ekincare wants to get into healthcare financing. “Lasik, cosmetic surgeries or even fertility related procedures are not covered by the regular insurance scheme. We will look to offer financing options for these segments, which the employees can pay in easy installments. We also plan to bring some elderly-focused programmes,” Kiran told Telangana Today. His company has a presence in about 170 locations now and will add new locations shortly.
ekincare platform considers behavioral data to personalise the employee health benefits. This results in higher adoption, employee engagement, and better health outcomes. Now, more than one million employees from 400 companies use ekincare. Its comprehensive health benefits solution for SMEs has integrated cashless inpatient and outpatient departments network across 150 plus cities.
The corporate health and wellness market is fragmented and employers find it difficult to work with multiple partners such as diagnostic centers, insurance companies and other healthcare players. “ekincare’s resolves this by integrating service providers across insurance, hospitals, diagnostics, teleconsultations providers, e-pharmacy, and mental wellness. It helps employers provide all benefits through a digital platform,” said Kiran.
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