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§ Public · Beijing, China
Waterdrop is a technology company.
Waterdrop Inc. operates a technology platform providing insurance and healthcare services. It offers short-term and long-term health and life insurance, a medical crowdfunding platform, and E-Find. The company positions itself as a digital provider of essential health and financial security solutions with a positive social impact, leveraging technology to streamline access to critical services.
Founded in 2016 by Peng Shen, Waterdrop Inc. arose from observed inefficiencies in traditional insurance and healthcare markets. Shen leveraged technology to democratize access to vital health and life protection, creating digital avenues for community financial support during medical crises. This foundational insight aimed to improve societal well-being through innovative service models that address underserved needs.
Waterdrop Inc. serves individuals seeking accessible insurance and financial aid for medical needs. Its vision is to continually advance technology, broadening the reach and effectiveness of its offerings to a wider demographic. The company seeks to cultivate a more inclusive and robust healthcare and insurance ecosystem, consistently driving positive social outcomes for its users.
Waterdrop has raised $516.1M across 4 funding rounds.
Waterdrop has raised $516.1M in total across 4 funding rounds.
Waterdrop has raised $516.1M in total across 4 funding rounds.
Waterdrop's investors include Temasek, Russell Higginbotham FCII, Haiyang Yu, IDG Capital, Wisdom Choice Global Fund, Boyu Capital, Tencent, Andreessen Horowitz, Ballistic Ventures, Dragoneer Investment Group, DST Global, Founders Fund.
Waterdrop has raised $516.1M across 4 funding rounds. Most recently, it raised $67.6M Series B in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 2, 2022 | $67.6M Series B | Temasek | — | Announced |
| Aug 20, 2020 | $230M Series D | Russell Higginbotham Fcii, Haiyang YU | IDG Capital, Wisdom Choice Global Fund | Announced |
| Jun 13, 2019 | $144.5M Series C | Boyu Capital | — | Announced |
| Mar 1, 2019 | $74M Series B | Tencent Holdings | Andreessen Horowitz, Ballistic Ventures, Dragoneer Investment Group, DST Global, Founders Fund, Greenoaks Capital, IVP, Ribbit Capital, SciFi VC, South Park Commons, TCV, Tiger Global Management, Vamos Ventures, Y Combinator, Elad GIL, Justin Mateen, Larry Summers | Announced |
Waterdrop is a technology-driven insurance and healthcare platform based in China that offers online brokerage services for short-term and long-term health and life insurance products. It serves millions of users by connecting them with insurance products underwritten by various insurers, while also operating a medical crowdfunding platform and a clinical trial patient recruitment service. Waterdrop aims to solve the problem of accessibility and affordability in healthcare and insurance by leveraging technology to provide inclusive, quality services at lower costs, demonstrating strong growth with over 115 million insurance customers served and multiple business divisions supporting life-cycle healthcare needs[1][3][6].
Founded in 2016 in Beijing by Dr. Peng Shen and Guang Yang, Waterdrop emerged from a vision to bring insurance and healthcare services to billions through technology. Early traction came from its innovative medical crowdfunding platform launched in 2016, which quickly became a leading service in China for patients with serious illnesses seeking financial help. The company has since expanded its offerings to include AI-powered claims assistance and technical services for insurance agencies, evolving into a comprehensive health-tech ecosystem[1][3][6].
Waterdrop rides the growing trend of digital transformation in healthcare and insurance, particularly in China’s large and evolving market. The timing is favorable due to increasing demand for affordable health coverage, rising healthcare costs, and the adoption of AI and digital platforms to improve service efficiency. Waterdrop’s model reflects a shift toward integrated health-tech ecosystems that combine financial protection with social support, influencing how insurance and healthcare services are delivered and accessed in emerging markets[1][3][6].
Waterdrop is poised to continue expanding its technological capabilities and service offerings, potentially increasing its international footprint. Trends such as AI integration, personalized insurance products, and digital health services will shape its journey. Its influence may grow as it deepens partnerships and leverages data-driven insights to enhance user experience and operational efficiency. Maintaining its social impact mission while scaling will be critical to sustaining growth and relevance in the competitive health-tech landscape[3][6].