Hive Health, a pioneering digital health insurer based in the Philippines, has completed a $6.5m Pre-Series A funding round, supported by an impressive consortium of global and local investors.
This strategic investment was led by the Sy family-backed Gentree Fund and global venture capital firm BEENEXT, with additional participation from Y Combinator, The Graduate Syndicate, Amasia, and Oak Drive Ventures. Several angel investors also joined the round, including David Wells, Lee Kheng Nam, Natasha Reyes, and Dr. Edwin Mercado.
Hive Health is dedicated to enhancing healthcare access for small and medium enterprises (SMEs) in the Philippines. The company leverages advanced technology and a comprehensive network to deliver quality healthcare solutions that are both affordable and accessible. By integrating FinTech and data analytics into their services, Hive Health aims to address the significant gaps in healthcare coverage that many Filipinos face.
The newly acquired funds are earmarked for several ambitious goals. Hive Health plans to expand its mission-driven team, extend its network of healthcare providers nationwide, and further develop its innovative technology platform. These efforts are expected to improve the overall healthcare experience for both employers and employees, making it more cost-effective and efficient.
In addition to financial growth, Hive Health has been instrumental in breaking new ground in the healthcare insurance market. Prior to this funding, the company made history by acquiring Health Plan Philippines, Inc. (HPPI), which included a full insurance license and a longstanding provider network spanning 38 years.
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