China-based health insurtech start-up CareVoice has raised undisclosed amount in its Series A funding round led by LUN Partners Group.

The company did not reveal the exact amount but said the investment is an USD ‘eight-figure-amount’.

The round was also joined by healthcare fund DNA Capital, SoSV as well as Artesian Capita l.

Earlier in January 2018, CareVoice raised nearly $2m in early-stage funding led by Haitao Capital and SoSV.

CareVoice intends to invest the proceeds to build a sales and customer teams as well as focus on business development across the globe.

The money will also be spent to develop and roll out an assortment of ten new health insurtech products.

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By GlobalData

The CareVoice co-founder and CEO Sebastien Gaudin said: “This funding will accelerate our vision to become the leading health insurtech platform in Asia, making health insurance digital and more human!

“Thanks to our new breakthrough CareVoiceOS platform, we will continue growing fast the number of insurers using our services while penetrating new geographic markets, with the aim to change how millions of insurance members experience healthcare insurance.”

Leveraging modern technology, CareVoice offers data-driven mobile-based SaaS solution which digitises the healthcare and insurance journey of consumers.

Nearly 15 domestic and international insurers such as Ping An and AXA have embraced CareVoice’s platform in the Chinese and Hong Kong market.

CareVoice has also launched its new offering CareVoiceOS. Claimed to be the first healthcare “Operating System” for insurers, the platform offers an end-to-end solution using which insurance firms can develop and introduce more customised insurance products.

LUN Partners Group founder and chairman Peilung Li said: “We foresee that insurance will be the next sector to experience the highest growth of digitalisation and innovation as well as the arrival of new fintech unicorn companies.

“To further aid the Company’s growth, LUN Partners will help CareVoice extend its proven digitalisation solutions to overseas insurance marketplaces in Japan, Southeast Asia, and other regions.”