The new experience will estimate annual healthcare spend for each employee, so they can make data-driven decisions as they select their health plans and benefits. Specifically, Nayya will introduce its newly enhanced user experience, with even more financial recommendations and personalized benefits risk scoring. The company’s products include “Choose,” a personalized decision support engine that helps employees select the right plans for their lifestyles during enrollment and the newly-launched “Use” product, an AI-driven, automated healthcare claims assistance and benefits engagement solution designed to help employees save money.
Nayya, which was co-founded in 2019 by Sina Chehrazi and Akash Magoon, will use the funding to grow the size of its team and invest in new features for its core offerings. Nayya has already driven significant product innovation and is expecting to finish the first half of this year with 5x growth in sales and 3x growth in its customer base. Returning insurance company investors include Guardian Strategic Ventures and Unum Business Ventures, alongside health insurer CNO Financial Group. NEW YORK, June 2nd, 2021 - Nayya, a leading insurance benefits experience and healthcare management platform, today announced that it has raised $37M 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. Following the launch of Nayya’s Use product, the funding will scale team growth and product innovation, helping American workers optimize their health and insurance benefits to save more money throughout the year.