About Plum
Plum is a company based in Bengaluru (India) founded in 2019 by Saurabh Arora and Abhishek Poddar. It operates as a InsurTech, and Subscription Services. Plum has raised $20.73 million across 3 funding rounds from investors including Angel List, Wellfound and Peak XV Partners. The company has 109 employees as of November 21, 2024. Plum offers products and services including Group Health Insurance, Group Term Life Insurance, Group Personal Accident Insurance, and Telehealth Services. Plum operates in a competitive market with competitors including Hinge Health, Practo, Accolade, Sharecare and Spendesk, among others.
- Headquarter Bengaluru, India
- Employees 109 as on 21 Nov, 2024
- Founders Saurabh Arora, Abhishek Poddar
- Stage Minicorn
-
Sectors
Financial ServicesTechnology Healthcare
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Plum Benefits Insurance Brokers Pvt Ltd
- Date of Incorporation 20 Nov, 2019
- Jurisdiction Bangalore South, Karnataka, India
-
Annual Revenue
$1.43 M (USD)-52.74as on Mar 31, 2024
-
Net Profit
$-1.8 M (USD)71.96as on Mar 31, 2024
-
EBITDA
$-2.09 M (USD)71.81as on Mar 31, 2024
-
Total Equity Funding
$20.73 M (USD)
in 3 rounds
-
Latest Funding Round
$15.7 M (USD), Series A
May 24, 2021
-
Investors
Angel List
& 38 more
-
Employee Count
109
as on Nov 21, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Plum
Plum offers a comprehensive portfolio of products and services, including Group Health Insurance, Group Term Life Insurance, Group Personal Accident Insurance, and Telehealth Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Comprehensive health coverage is provided for employee teams.
Life insurance coverage is offered for employee groups.
Accident coverage is ensured for employee protection needs.
Virtual consultations are facilitated with leading Indian doctors.
Unlock access to complete
Funding Insights of Plum
Plum has successfully raised a total of $20.73M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $15.7 million completed in May 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $15.7M
-
First Round
First Round
(03 Feb 2020)
- Investors Count 39
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2021 | Amount | Series A - Plum | Valuation | Tiger Global Management , Tanglin Venture Partners | |
| Nov, 2020 | Amount | Seed - Plum | Valuation | Surge , Tanglin Venture Partners | |
| Feb, 2020 | Amount | Seed - Plum | Valuation | Incubate Fund India |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Plum
Plum has secured backing from 39 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Angel List, Wellfound and Peak XV Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Venture and private equity investments are managed with global diversification.
|
Founded Year | Domain | Location | |
|
Acceleration is provided to startups across multiple sectors by Surge.
|
Founded Year | Domain | Location | |
|
Venture capital fund investing in early-stage tech startups
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Plum
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Plum
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Plum Comparisons
Competitors of Plum
Plum operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Hinge Health, Practo, Accolade, Sharecare and Spendesk, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Virtual physical therapy and digital pain care solutions are provided.
|
|
| domain | founded_year | HQ Location |
Doctor appointments are booked and healthcare professionals are consulted online.
|
|
| domain | founded_year | HQ Location |
Employee health benefits are facilitated via a cloud-based platform.
|
|
| domain | founded_year | HQ Location |
Health and wellness social network for employees is provided.
|
|
| domain | founded_year | HQ Location |
Provider of prepaid cards for financial benefits of employees
|
|
| domain | founded_year | HQ Location |
Employee health and well-being solutions are delivered through a platform.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Plum
Frequently Asked Questions about Plum
When was Plum founded?
Plum was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Plum located?
Plum is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Plum?
Abhishek Poddar is the current CEO of Plum. They have also founded this company.
Is Plum a funded company?
Plum is a funded company, having raised a total of $20.73M across 3 funding rounds to date. The company's 1st funding round was a Seed of $975.64K, raised on Feb 03, 2020.
How many employees does Plum have?
As of Nov 21, 2024, the latest employee count at Plum is 109.
What is the annual revenue of Plum?
Annual revenue of Plum is $1.43M as on Mar 31, 2024.
What does Plum do?
Plum is recognized as a leading provider of employee health benefits and insurance solutions in India. Comprehensive group health, term life, and personal accident insurance plans are offered to businesses ranging from startups to enterprises. Holistic healthcare services, including telehealth, health checkups, and mental health support, are integrated to ensure employee well-being. Advanced technology and seamless API integrations with insurers and HRIS tools are utilized to enhance benefits management and claims processing. Customized solutions are designed for startups, small and medium businesses, and large enterprises, ensuring scalability and efficiency. A commitment to care and transparency is maintained, redefining insurance and healthcare partnerships across diverse sectors.
Who are the top competitors of Plum?
Plum's top competitors include Accolade, Hinge Health and Wellhub.
What products or services does Plum offer?
Plum offers Group Health Insurance, Group Term Life Insurance, Group Personal Accident Insurance, and Telehealth Services.
Who are Plum's investors?
Plum has 39 investors. Key investors include Angel List, Wellfound, Peak XV Partners, Gemba Capital, and Tracxn Labs.
What is Plum's valuation?
The valuation of Plum is $83.04M as of May 2021.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.