Indian online insurance platform Policybazaar is planning to file a draft prospectus as soon as next month for its Mumbai initial public offering that could raise about $500 million, according to people familiar with the matter.

Bright Health Group Inc., a digital health records platform, is planning an initial public offering in the U.S. this year, according to people with knowledge of the matter.

The new funds for the insight-driven workflow platform for safety and risk management will be used for product innovation, hiring, and accelerated client acquisition and sales, as well as marketing and partnership development.