Loop, a company focused on transforming employee health and wellness, by combining group health insurance with unlimited primary care, today announced that they have registered tremendous growth in Bangalore’s startup ecosystem in 2022. The company has registered a 400% YoY growth and now supports 25,000 startup employees and their families across the city. Headquartered in Pune, Loop opened their Bangalore office in 2021 and is rapidly scaling their on-ground team to cater to the city’s burgeoning demand for employee health transformation. Loop’s unique healthcare model is backed by marquee global investors like Vinod Khosla (Khosla Ventures), Elevation Capital, General Catalyst and Optum Ventures among others.
Apart from an exponential growth in companies and lives covered, Loop has also shown a 23x growth in the number of online chats with medical advisors on the Loop app and a 12x growth in the number of doctor consultations. These are positive trends that point to a pull factor among Bangalore’s startup employees towards improving their overall health and wellbeing
Startup companies have a high-growth, results-oriented culture. While startups have historically looked for growth hacks in the form of funding, strategic hiring and acquisitions, they have not explored improved employee health as a growth hack. Traditionally startups, like most companies have only provided health insurance and stopped at that. Health insurance is merely a form of payment for sick care. Loop has led from the front by combining sick care with instant preventive health care through proactive education, doctor consultations with Loop’s in-house team of doctors, diagnostics, camps and testing. Loop has also organized hundreds of hours of wellness sessions across Bangalore and has demonstrated that improved employee health leads to better productivity, increased employee engagement and a stronger employer brand.
Loop will be adding 100 employees in Bangalore in 2023 across all customer facing functions to cater to the exponential growth Loop is seeing in the city.
“Bangalore’s startup ecosystem has been an early adopter of many game changing trends in the past and is now championing the cause of employee health for better human and business outcomes. Startups realize that just providing health insurance in an offline or digital mode is not enough. Loop has led from the front to make preventive and curative healthcare a Founder charter and an HR leader charter and we are thankful for our 2022 cohort of customers in Bangalore who have led from the front and set the right example for the rest of the community to follow through. I am confident that 2023 will be an even bigger year for Loop and for Bangalore’s startup employees in terms of their health and wellness,” said Amrit Singh, co-founder and Chief Revenue Officer, Loop.
About Loop
Loop provides trusted guidance for better health by combining health insurance with unlimited primary healthcare. Loop assures Better Care by providing companies with flexible insurance policies tailored to their employees’ needs and efficient and empathetic claims and hospital support. Loop assures Better Health by providing 24x7, unlimited primary care for employees through a panel of medical specialists and advisors who focus on preventive healthcare, a year-round wellness service for all-round employee wellbeing and curated lifestyle management programs tailored to individuals. Loop has raised nearly $40 million in funding and is backed by leading investors like Khosla Ventures, General Catalyst, Elevation Capital and YCombinator, to name a few. Visit www.loophealth.com.
Source: Businesswire India