Nova Benefits, an employee wellness platform centred on corporate health insurance, today announced it has received an undisclosed amount from SHL Capital, a fund by Sahil Lavingia, CEO at Gumroad, author and investor.
According to a press statement, Lavingia chose to invest in Nova Benefits based on the company’s mission to build happier and healthier workplaces, and high hiring velocity.
In February 2022, Nova became the first Indian investment of the Naval Ravikant-backed AngelList Early-Stage Quant Fund.
What does Nova Benefits do?
Nova Benefits enables companies to avail customised health insurance plans for their employees and add additional health and wellness benefits around physical and mental health.
SHL Capital, run by Sahil Lavingia, Founder of Gumroad, invests in companies that solve complex problems with easy-to-use, elegant solutions. SHL Capital also takes into account the understanding founders have of the space they are operating in. The fund has invested in HelloSign, Lambda School, Notion, Jam and Figma to name a few, a statement said.
Speaking on SHL Capital’s investment in Nova Benefits, Sahil Lavingia, Founder at Gumroad, said: “Nova Benefits is well-positioned to crack the code of employee wellness in India. I believe in what Nova Benefits is doing, and I am excited to see them execute.”
Speaking on receiving funds from SHL Capital, Saransh Garg, CEO and Co-founder of Nova Benefits said, “We are excited to have Sahil as a mentor and advisor. It’s an exciting time to be in the employee wellness space. The definition of wellness now stands much beyond the terrains of insurance, and Nova Benefits is constantly exploring ways to make it about holistic wellbeing.”
Sharing his thoughts, Yash Gupta, CTO & Co-founder, Nova Benefits said, “We are building a platform that will enable HRs to provide personalised benefits across physical health, mental health, and financial wellness to families of 10 million employees in the next 5 years. Sahil’s expertise in designing products that work at scale will be instrumental in shaping this platform.”
