Employee healthcare platform Onsurity has secured $26.4 million, or Rs.219 crore, in a fresh funding round led by Creaegis and including Nexus Venture Partners and Quona Capital, two of its current backers.

According to Onsurity's regulatory filing that was retrieved by the Registrar of Companies (RoC), the board approved a special resolution to issue 10, equity, and 6,302 series B1 CCPs at an issue price of Rs.3,48,089 apiece in order to generate Rs.219 crore, or $26.4 million.

With a lead contribution of Rs.176.4 crore, Creaegis led the funding round. Existing investors Quona Capital and Nexus Ventures contributed Rs.11.9 crore and Rs.31.4 crore, respectively.

As determined by the board, the firm will use the funds for general corporate objectives, working capital requirements, and development and expansion.

TheKredible, a startup data intelligence platform, estimates OnSurity's valuation to be approximately Rs. 1,032 crore, or $124 million after allotment.

After the additional funds are received, Creaegis will own 17.10% of the business, while Nexus and Quona will control 28.22% and 12.82% of the company, respectively.

Yogesh Agarwal and Kulin Shah founded Onsurity in 2020. Customers can buy subscription-based services from Onsurity and provide it to their full-time staff, independent contractors, interns, and consultants

The company provides business products through its subsidiary, including commercial general liability insurance, cyber insurance, and D&O liability insurance.

Over $66 million has been raised by Onsurity thus far, including a $24 million Series B investment in October of last year.