ImpactGuru - Highlights
|Founders||Piyush Jain, Khushboo Jain|
|Sector||Fintech focused on healthcare|
- ImpactGuru - Introduction
- ImpactGuru - Industry Details
- ImpactGuru - Founders
- ImpactGuru - Funding
- ImpactGuru - Product
- ImpactGuru - The Idea and starting up
- ImpactGuru - Business and Revenue Model
- ImpactGuru - Challenges
- ImpactGuru - Partners
- ImpactGuru - Awards & Achievements
- ImpactGuru - Future Plans
ImpactGuru - Introduction
ImpactGuru was born with a mission to make healthcare accessible to all and save more lives. It is a tech-for-good platform that provides complete crowdfunding solutions to empower individuals, NGOs and social enterprises to raise funds for medical emergencies, personal needs, creative projects or any social cause - be it big or small.
An ImpactGuru is someone who envisions change, who finds solutions to social problems, who steps up to support another change-maker, who makes kindness a habit, who dares to follow his/her dream, or who simply helps out a friend in need.
We believe that each individual holds the power to effect great change and given the right tools and the right backing, can become an ImpactGuru himself/herself.
We want all of them to be able to raise funds successfully on ImpactGuru.
I was keen on a business model that would add value and meaning to the community. Our vision is to make sure that nobody in India has to ever struggle to fund their medical treatment due to lack of money. - Piyush Jain
The startup was incubated at Harvard Innovation Lab in August 2014 and at PACT, Singapore in May 2015.
ImpactGuru - Industry Details
India’s private healthcare spend stands at $90 billion a year. Of this, merely one-third is covered by insurance and the balance $60 billion is met largely with borrowings from friends and family. Capturing 10% of this segment would mean a medical crowdfunding market of around $6billion. This is the segment ImpactGuru is looking to tap.
Healthcare crowdfunding is the most disruptive solution to address this problem. There are no loans or interest to be paid off when it comes to crowdfunding as funds raised online is considered as a donation.
ImpactGuru - Founders and Team
Piyush Jain, Co-Founder and CEO
Investment Banking, JP Morgan The Boston Consulting Group, E&Y Harvard, Kennedy School of Government
Khushboo Jain, Co-Founder and COO
Marketing at Hackett, La Martina and Jimmy Choo Singapore Applied Science, Fashion Marketing, Parsons School of Design
Piyush is backed by awesome and dedicated team who truly stand with the vision and mission of ImpactGuru.
- Dheeraj Bansal- CMO Product and Marketing, Ex-Snapdeal, IIT Bombay
- Vikas Kaul - Chief Product Officer, Ex-Quikr, Ex- Deloitte, IIMK
- Ankita Kumari - Vice President, Operations, Ex - PSTakeCare, Amity University
- Sandeep Tripathy - Head, Business Development, Ex- PSTakeCare, IIT Bombay
ImpactGuru - The Idea and starting up
When I decided to go to Harvard University, Kennedy School of Government, I found my calling when I accepted a fellowship with Instiglio, a US non-profit focused on using social impact bonds to help non-profits scale.
While at Harvard, Piyush assisted his Professor in teaching a class on financial management in non-profit Organizations, while he was at harvard. He also co-authored a paper on - ‘Non-Equity Financing for Entrepreneurial Ventures’.
Fortunately, both Khushboo and Piyush shared the same vision to create a crowdfunding platform to help not just non-profits but also individuals with educational, medical, or personal needs to raise money online. Piyush's knowledge of finance and technology clubbed with the brand, marketing and communications skill sets of Khushboo had garnered over the years. It does require a fantastic partnership and they have been very lucky to forge that successfully.
ImpactGuru - Product
What makes ImpactGuru stand out is that they are the only crowdfunding platform to have their own storybuilder to help customers write great stories as it’s a major pain point in the industry today. It has an AI-supported storybuilder for medical fundraisers, with a template for all campaigners to develop their own standardized campaign stories. It’s a first in the world innovation in crowdfunding globally!
ImpactGuru is also the first crowdfunding player in India to launch a smartphone app for customers. The app presents the user with a quick view of their fundraiser, thus enabling them to keep track of the progress of the campaign, get real-time donation notifications and post updates.
ImpactGuru.com has become the largest crowdfunding platform in India for medical expenses. Over 20,000 patients have benefited by 200,000 donors from ImpactGuru. Over Rs 150 crores / US$20mm has been mobilized across 15 countries on our online platform.
ImpactGuru - Business and Revenue Model
ImpactGuru has a highly scalable, asset light, transparent revenue model. It charges average 8% of total funds raised as our fees with 5% directly being net revenue. It charges additional fixed fees for premium services such as digital marketing, video, content support.
ImpactGuru - Challenges
Social problems are so immense in India, that often one can get disillusioned by the impact one creates i.e. whether one’s intervention is moving the needle or not.
At ImpactGuru, we often face an ethical dilemma.
Private hospitals will not proceed with treatment without the funds, say of 5 children whom are near death without a critical emergency surgery. It is an overwhelming feeling as we will be disappointing someone or maybe more as we have limited resources as an organization and limited donors to reach out to fund each of the 5 surgeries successfully.
How to handle the mental pressure and how to execute the task is the pressing concern.
It’s very important to keep the perspective that the journey of a thousand miles begins with a single step. We thus pick cases where we can have the maximum impact given the short time. We select cases such as transplant, heart surgeries, cancer rather than dengue, malaria, diarrhoea.
ImpactGuru - Funding
ImpactGuru has raised a total of $2.5Mn from various investors around the globe.
|April 2016||Seed||$0.5 million (INR 3.3 crores)||RB Investments Pvt Ltd (Singapore based VC Fund)|
|May 2018 - Nov 2018||Series A||US$2 million (Rs. 15 crores)||Apollo Hospitals Group, Currae Healthtech Fund, RB Investments, Shorooq Investments, Venture Catalysts with participation from various other investors from USA, Southeast Asia, and Middle East.|
ImpactGuru - Partners
ImpactGuru has a strategic partnership with GlobalGiving.org, the world's largest nonprofit crowdfunding platform based in US and UK. It is the only crowdfunding platform in the world that can offer Indian, US, and UK tax benefits to Indian and international donors.
ImpactGuru has also partnered with Apollo patients nationwide which makes ImpactGuru the preferred crowdfunding platform for all .
ImpactGuru - Awards & Achievements
ImpactGuru has won following awards worldwide!
- Recognized among top 5 startups in India and raised investment funding on live TV on Tie The Knot: Real Funding, Unreal Speeds, CNBC TV18’s longest running shows – Young Turks
- ImpactGuru declared winner of Maharashtra Startup Week 2019, organized by the Maharashtra State Innovation Society
- BusinessworldTectors Awards 2018 – Tech Companies To Watch Out For
- TechCircle 2018 Public Choice Award for Best Social Impact Startup award
- MedAchievers HEALTH NXT 2018 Rising Startup Award
- 2018 Top 3 Startups in West Zone, Start Smart Awards 2018
- Businessworld BW Disrupt Social Woman Entrepreneur Award
- YourStory SheSparks Awards 2018 - Fintech & Financial Inclusion category
- Social Samosa Social Media Superwoman 2018
ImpactGuru - Future Plans
Expanding business in Middle East markets is the next on the cards with the help of some investors from the region who have recently invested in the company.
I’m on a mission to make healthcare accessible to all and save more lives and cast the ImpactGuru net across geographies.
Website - ImpactGuru