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§ Private Profile · Bengaluru, Karnataka
Paz Care is a technology company.
Paz Care offers an employee benefits platform, leveraging technology to streamline health insurance and other wellness programs for businesses. The company provides a comprehensive solution that enables employers to effectively design, administer, and manage benefit packages tailored for their workforce. This platform centralizes the often complex process of benefits provision and oversight.
The company was co-founded in 2020 by Sanchit Mathur and Manish Mishra, establishing its operations in Bengaluru, India. Their entrepreneurial journey began with the recognition of a clear market need for a more accessible and manageable approach to employee welfare. The founders aimed to simplify the intricate landscape of corporate benefits for both businesses and their employees.
Paz Care’s platform is primarily adopted by companies seeking efficient management of employee insurance and associated benefits within the Indian market. It serves organizations striving to provide robust and easily administrable coverage to their staff. The company’s long-term vision is to significantly enhance the accessibility and ease of managing employee benefits, fostering improved corporate welfare standards.
Paz Care has raised $11.0M across 2 funding rounds.
Paz Care has raised $11.0M in total across 2 funding rounds.
Pazcare is an insurtech startup founded in 2020 that provides a digital platform for employee benefits management, primarily serving startups, SMEs, and companies in India.[1][2][3] It enables employers to purchase and manage group health insurance, group personal accident insurance, group term life insurance, wellness packages, and tax-saving benefits through products like paz insurance, paz wellness, and paz finance (including pazcard for employee perks).[1][2][3] The platform solves key pain points in corporate benefits by offering customizable plans, zero-touch digital onboarding, easy claims processing via a mobile app, HRMS integrations, and 24/7 support, helping HR teams save time on manual processes while boosting employee satisfaction with accessible, underutilized benefits.[2][3] With 168 employees, ₹90.93 Cr (~$11M) in total funding (including a $8.2M Series A led by JAFCO Asia in 2023), and strong metrics like 70+ NPS for claims/support and 9.2/10 customer satisfaction, Pazcare demonstrates solid growth momentum in the competitive employee benefits space.[1][3][4]
Pazcare was founded in 2020 in Bengaluru, India, as a response to fragmented employee benefits management for growing companies, particularly startups and SMEs needing efficient group insurance solutions.[1][2][4] While specific founder names are not detailed in available sources, the leadership includes a Co-Founder & CEO, VP of Insurance Products, and VP of Strategy & GTM, supported by a diverse team emphasizing customer-first innovation.[4][6] Early traction came from addressing manual workflows in insurance distribution, leading to products that automate benefits assignment, claims, and analytics; the company quickly raised funding, culminating in a $8.2M Series A in 2023 from JAFCO Asia, 3one4 Capital, and BEENEXT, valuing it at $48M.[1][4] Pivotal moments include launching an employee app for seamless access and earning accolades like "best brand in insurance," which solidified its position amid rising demand for digital insurtech post-pandemic.[3][4]
Pazcare stands out in the crowded insurtech landscape through tech-driven features tailored for Indian corporates:
User reviews praise efficiency and proactivity but note occasional issues like third-party insurer dependencies during complex claims.[5]
Pazcare rides the insurtech and embedded insurance wave in India, where digital platforms are transforming employee benefits amid a booming startup ecosystem (over 100K startups) and rising healthcare costs.[1][2] Timing is ideal post-COVID, as SMEs prioritize wellness and retention tools; market forces like regulatory pushes for group insurance portability and HR tech adoption (e.g., via integrations) favor scalable solutions over traditional brokers.[2][3] Competitors like Plum, Loop Health, and ekincare focus on similar healthtech, but Pazcare differentiates with end-to-end management (insurance + perks) for diverse workforces.[2] It influences the ecosystem by enabling faster scaling for portfolio companies—e.g., testimonials from startups highlight simplified insurance amid "tough times"—and contributes to a shift toward data-driven, employee-centric HR, potentially capturing share in India's $10B+ corporate benefits market.[3][4]
Pazcare is well-positioned for expansion with its Series A fuel, targeting deeper HR tech integrations and product diversification (e.g., more outpatient/wellness expansions).[1][4] Upcoming trends like AI-driven claims prediction, mental health add-ons, and gig economy benefits will shape its trajectory, especially as India's workforce grows to 1B+ by 2030. Influence may evolve from niche startup enabler to full-suite benefits leader, challenging incumbents if it sustains NPS highs and navigates insurer partnerships. As insurtech matures, Pazcare's focus on "benefits that never go wasted" could redefine employee care, tying back to its core promise of empowering people leaders to prioritize teams over admin.
Paz Care has raised $11.0M across 2 funding rounds. Most recently, it raised $8.0M Series A in June 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2022 | $8M Series A | Supriya Singh | 3one4 Capital, Astir Ventures, B Capital Group, Beenext, Christopher Zemina, Ashish Hemrajani, Haresh Chawla | Announced |
| Oct 1, 2021 | $3M Seed | Beenext | 3one4 Capital, Astir Ventures, B Capital Group, Christopher Zemina, Aprameya Radhakrishna, Ashish Hemrajani, Ashneer Seth Grover, Haresh Chawla, Kunal Shah, Zishaan Hayath | Announced |
Paz Care has raised $11.0M in total across 2 funding rounds.
Paz Care's investors include Supriya Singh, 3one4 Capital, Astir Ventures, B Capital Group, BEENEXT, Christopher Zemina, Ashish Hemrajani, Haresh Chawla, Aprameya Radhakrishna, Ashneer seth Grover, Kunal Shah, Zishaan Hayath.