Plum Benefits Raises Series B Funding
Analysis based on 6 articles · First reported Mar 26, 2026 · Last updated Mar 26, 2026
The successful Series B funding round for Plum Benefits, coupled with its achievement of profitability, signals positive growth in the insurtech sector. This event could attract further investment into similar employee health benefits platforms, potentially increasing competition and innovation in the industry.
Plum Benefits, an employee health benefits platform based in Bengaluru, has successfully raised Rs 193 crore (approximately $20.5 million) in a Series B funding round. The round was led by Peak XV Partners, with participation from existing investor Live Oak Venture Partners and new investor GMO VenturePartners. This marks Plum Benefits' first major fundraise in nearly five years, following its Series A round in 2021 led by Apollo Global Management. The fresh capital will be primarily used to strengthen technology, hire talent, build enterprise-grade security layers, and scale AI-driven claims operations. Plum Benefits also plans to expand its integrations with HR and payroll systems and broaden its healthcare stack to include preventive care, primary care, mental wellness, and telehealth. The company, founded in 2019 by Abhishek Poddar and Saurabh Arora, serves over 6,000 organizations, including Cred (company), Meesho, Walmart — PhonePe, and Swiggy, covering more than 600,000 employees. This fundraise follows Plum Benefits' first full year of EBITDA and cash flow profitability, processing over 500,000 claims and significantly improving claims processing times.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard