Sramana Mitra: How do you charge? Prashant Srivastava: Employers invest about $50 a person a year in our technology to help get the right benefit to the right person and get value for their $10,000 investment. Sramana Mitra: Can you look at the benefits infrastructure and comment on what are the trends that you see?
Sramana Mitra: Can you also explain how the money flows in this situation? You’re talking about employers and employees who are using these benefits. Prashant Srivastava: We’ve been very fortunate to build a win-win-win model. The first winner is the individual who gets to know of the right benefit that is already in their package.
Prashant has built a very interesting benefits optimization company to over $30 million in revenue. He shares insights on how he sees the benefits optimization space is evolving with the application of predictive analytics. Very cool conversation! Sramana Mitra: Tell us about Evive. What are you doing? What trends are you aligning with? Prashant Srivastava:
Sramana Mitra: You are a venture-funded company? Inder Singh: We are. We’ve raised $25 million. We’re backed by a number of great investors including Kleiner Perkins who, as you know, is the earliest investor in Amazon and Google and has done a bunch of work in life sciences. We’ve also got some support from some
Sramana Mitra: When somebody is buying the thermometer, alongside the thermometer, you’re asking them to register on your app and start using the social platform as well to get into this kind of a network. Inder Singh: Yes. You buy the product at a store. We sell it as a better and smarter version of
Inder Singh: People like our product because it makes it easier to take a sick child’s temperature. We’ve gamified the temperature-taking process. You can record your symptoms and track them for yourself or for your doctor. You can show the doctor the full history. We provide them coaching in the app itself. If you go
This is a very cool story of an intelligent thermometer with far-reaching consequences. Absolutely fascinating! Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Kinsa. Inder Singh: I am the Founder and CEO of Kinsa. I started the company about five years ago. Kinsa has reimagined the thermometer, which is
Sramana Mitra: I have one observation. In everything that I’ve heard so far, it seems to me that this is a cloud computing story. It’s a cloud computing service that you’re applying to the healthcare industry. I haven’t heard anything that is particularly specific to healthcare. Darin Brannan: The regulatory requirements for healthcare are non-trivial