Insurtech CareVoice has secured $10 mn funding in Series B led by Apis Insurtech Fund I. The funding will be used to accelerate the Company’s growth, expand collaborations with insurers across regions, and invest in the next generation of the CareVoiceOS platform.
CareVoice is a health insurtech company focused on health insurance innovations, leveraging embedded health insurance technology.
CareVoice aims to transform the healthcare experience by making health insurance more customer-centric and wellness-oriented through technological innovations.
They specialize in embedded health insurance, integrating medical services directly into insurance plans to improve the customer experience and enhance health outcomes.
The Fund, managed by Apis Partners, a UK-based asset manager renowned for its emphasis on financial returns and social impact, has been instrumental in driving growth and development within its portfolio companies.
Apis leverages its sector expertise to implement value creation initiatives, positively affecting the lives of numerous individuals.
Since its initial investment in CareVoice in 2019, Apis has actively supported the company’s expansion and development efforts.
These include facilitating business development activities to attract enterprise customers, utilizing its network in the insurance industry, and engaging stakeholders to foster partnerships.
The success of CareVoice is clear, demonstrated by the revenue growth of 2x year-on-year by the end of 2023, and the geographical expansion to 15 countries worldwide
Matteo Stefanel, Co-Founder and Managing Partner at Apis Partners
Apis’ investment strategy is aligned with CareVoice’s mission to transform insurer-customer engagement for improved health outcomes.
Over the past two years, CareVoice has expanded its operations and formed partnerships with leading insurers, including global reinsurers and digital distribution enablers. It has also experienced a significant doubling of revenues in 2023 compared to the previous year.
CareVoice provides a Health Operating System (Health OS) designed for insurers to deliver superior health plans.
This platform enables personalized, flexible health plans that adapt to individual needs, driving better health engagement.
We are collaborating with two types of insurers, those early movers in the health and wellness space who are already aware of the gaps in their capabilities, and new entrants who want to accelerate, avoiding the pitfalls and challenges other insurers have faced.
Sebastien Gaudin, CEO and Co-founder of CareVoice
Both types are looking to generate additional profitable insurance business directly and through attracting and retaining healthier customer profiles.
CareVoice aims to improve the insurance experience by integrating health and wellness benefits directly into health plans.
By providing tools and resources, CareVoice helps insurers promote healthier lifestyles among their members, potentially reducing overall healthcare costs. Their embedded solutions help in proactive health management, which can enhance patient outcomes and improve satisfaction rates.
by Peter Sonner
