Nayya raises $37 million

New York-based insurance benefits experience and management platform
Nayya

has raised $37 million in Series B financing, co-led by SVB Capital and ICONIQ Growth, with participation from investors including Bow Capital, Felicis Ventures, Social Leverage and SemperVirens. Returning insurance company investors include Guardian Strategic Ventures and Unum Business Ventures, alongside health insurer CNO Financial Group.

Founded in 2019, the startup looks to simplify the process of choosing and understanding an employer-provided healthcare plan. The product helps employees find the plan that is right for them by asking a series of questions about lifestyle, health, location, etc. Nayya then looks at the various plans provided by the employer to show you which one matches the user’s particular lifestyle and budget best. Recently, the startup introduced a new product – an “AI-driven, automated healthcare claims assistance and benefits engagement solution designed to help employees save money.”

“We are committed to improving the healthcare experience for employees. Employee financial wellness is more important than ever, with employee health being the largest driver. This new capital will accelerate the growth of Nayya’s ‘system of influence,’ within ‘systems of record’ across the United States. Once employees can fully understand their benefits and become confident consumers of healthcare, we can build a much stronger, much more efficient market. We are very excited to welcome SVB Capital and ICONIQ Growth, firms with deep data and software experience, as we continue to expand our footprint and growth strategy.” – Sina Chehrazi, cofounder and CEO at Nayya.

“The idea of a personalized benefits experience, coupled with data science and AI technology that can tie all your benefits decisions together, has really never existed before. Nayya has reinvented the entire benefits experience, creating a brand-new medium that empowers consumers, while helping them save money and avoid unexpected medical costs.” – Tilli Bannett, managing director at SVB Capital.

“We believe Nayya is redefining benefits decisioning for American workers. Nayya’s data science and AI-powered products greatly improve the benefits experience, enabling employers to better serve their employees while also empowering employees to make informed decisions on their benefits which can drive immense value to their lives.” – Caroline Xie, General Partner at ICONIQ Growth.

The post Nayya raises $37 million appeared first on Coverager – Insurance news and insights.

Source: https://coverager.com/nayya-raises-37-million/

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