Digital health platform ekincare has acquired AI powered claims adjudication SaaS platform Superclaims. As part of the acquisition, Bhavish Ramaswamy, cofounder and CEO of Superclaims, and Maneesh Daithala, cofounder and CTO, along with the leadership team, will continue in their respective roles and report to the senior leadership at ekincare. The Superclaims brand will continue to operate independently while benefiting from ekincare's broader platform and distribution network. The acquisition is expected to unlock new growth opportunities by expanding ekincare's presence across insurers and TPAs, increasing wallet share within its existing enterprise customer base, and creating cross sell opportunities across both businesses. It also positions ekincare and Superclaims to expand beyond India as an AI powered SaaS platform for insurance companies globally. Co-founded in 2014 by Kiran Kalakuntla and Srikanth Samudrala, ekincare is a personalized, full stack, customizable health benefits platform that helps employers design health benefits packages that best suit the needs of employees and their families. The Hyderabad-based company raised $15 million in its Series B round led by HealthQuad and Sabre Partners, with participation from existing investors Ventureast, Eight Roads Ventures, Siana Capital, and Endiya Partners in March 2022. ekincare claims that it serves 2 million employees across more than 1,000 organizations, including Fortune 500 companies such as PepsiCo, BlackRock, and Visa. It also has a network of more than 90,000 healthcare providers across over 500 cities. Superclaims is an AI powered claims adjudication SaaS platform that integrates directly with an insurer's or TPA's existing workflow. It automates one of healthcare's most document heavy and error prone processes. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
