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Investments

4

Portfolio Exits

1

About Douglas Feirstein

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Latest Douglas Feirstein News

Plum raises USD 15.6 mn in funding led by Tiger Global

May 31, 2021

Plum raises USD 15.6 mn in funding led by Tiger Global Plum, a group health insurance startup, on Monday said it has raised USD 15.6 million (about Rs 112.8 crore) in funding, led by Tiger Global.The series A round also saw participation from earlier investors – Sequoia Capital India's Surge, Tanglin Venture Partners, Incubate Fund and Gemba Capital, a statement said.Angel investors Kunal Shah (founder, Cred), Gaurav Munjal, Roman Saini and Hemesh Singh (founders of Unacademy), Lalit Keshre, Harsh Jain and Ishan Bansal (founders of Groww), Ramakant Sharma and Anuj Srivastava (founders of Livspace), and Douglas Feirstein (founder of Hired) also participated.Plum had raised USD 5 million in earlier rounds last year.The funds raised will be used to further scale engineering, business development and operations teams, the statement said.With over 600 organisations onboarded, Plum has been witnessing a growth rate of 110 per cent quarter-on-quarter, the statement said. Its client base includes small and medium enterprises, corporates and fast-growing startups in India, including Groww, Unacademy, Twilio, CleverTap, UrbanLadder, smallcase and Simpl.Plum said it is building newer insurance products for SMEs who have teams as small as seven employees and cannot afford to pay annual premiums.The company is also looking at building deeper API integrations with insurers like ICICI Lombard, Care Health, Star Health and New India Assurance.''Plum aims to reach a milestone of 10mn lives insured by 2025, by changing the employee health insurance space. With Plum, we are making the process transparent, affordable and easy, using tech at scale. The adoption of health insurance by startups, SMEs and corporates is increasing exponentially, and is further accelerated by the ongoing COVID-19 pandemic,'' Plum co-founder and CEO Abhishek Poddar said.Scott Shleifer, Partner at Tiger Global, said as India's healthcare insurance industry rapidly expands and transforms, Plum is well positioned to make comprehensive health insurance accessible to millions of Indians.''We are excited to partner with Abhishek, Saurabh and the Plum team as they scale their leading tech-enabled platform to employers across the country,” he added.Plum said the group health insurance market in India, which is almost 50 per cent of the total USD 3.5 billion health insurance market, has seen an annual growth of about 25 per cent in the last few years, and is doubling every three years.Group health insurance products cover about 90 million Indians, but are expected to cover more than 500 million Indians by the end of this decade, it added.

Douglas Feirstein Investments

4 Investments

Douglas Feirstein has made 4 investments. Their latest investment was in PlumHQ as part of their Series A on May 5, 2021.

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Douglas Feirstein Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/31/2021

Series A

PlumHQ

$15.6M

Yes

4

5/4/2015

Seed VC

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$99M

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10

7/10/2012

Seed VC

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$99M

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0

11/29/2011

Seed VC

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$99M

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10

Date

5/31/2021

5/4/2015

7/10/2012

11/29/2011

Round

Series A

Seed VC

Seed VC

Seed VC

Company

PlumHQ

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Amount

$15.6M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

4

10

0

10

Douglas Feirstein Portfolio Exits

1 Portfolio Exit

Douglas Feirstein has 1 portfolio exit. Their latest portfolio exit was LoveWithFood on June 20, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/20/2018

Acquired

2

Date

6/20/2018

Exit

Acquired

Companies

Valuation

Acquirer

Sources

2

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