Loop Health Raises $12M Series A Financing
Gunderson Dettmer represented client Loop Health, an India-based healthcare and insurance startup, in its $12 million Series A financing. The financing was co-led by General Catalyst and Elevation Capital, with participation by Khosla Ventures, Tribe Capital, Sierra Ventures, and Y Combinator’s Continuity Fund. The new capital will be used to expand Loop Health’s business and sales, focus on product development and continue partnering with other healthcare providers.
In the announcement of the transaction, co-founder and CEO at Loop Health Mayank Kale said, “We aspire to radically disrupt the medical insurance industry by bridging the gap between health insurance and health care and transforming it into a more empathic, accessible, and preventive system. Our doctors at Loop are on the same side as the insurance company. Their objective is to provide excellent primary care to keep patients healthy and out of the hospital. As a result, insurers receive fewer claims, and insurance costs less. There is a big opportunity to bring this new type of Health Assurance to India, and today we are the only ones doing it.”
The Gunderson deal team was led by David He, and included Cheryl Lau, Ethan McMahon, and Amira Abulafi.