Nayya, a NYC-based insurance benefits experience and management platform, closed an $11M Series A funding round. The round was led by Felicis Ventures, with continued support from all early investors including Social Leverage, Guardian Life, one of the largest mutual life insurance companies in the US, and Cameron Ventures. Unum Business Ventures also joined the round with a venture investment from the Fortune 500 insurance company covering 39 million Americans.
“Selecting the right insurance can be a difficult and costly process, particularly with added concerns and health risks brought on by the pandemic,” said Sina Chehrazi, CEO and co-founder of Nayya. “Our investors recognize the power behind Nayya’s technology to harness the massive proliferation of data produced across the healthcare and insurance industries. Leveraging AI and data science, we can highlight and manage plans that best match individual needs, at the same time putting dollars back into American households during the rest of the year — at a time they need it most.”
The company intends to use the capital to grow the team in New York and across the country, expand its product portfolio into additional lines of insurance, deepen its consumer data and HCM (Human Capital Management) integrations, and accelerate partnerships across leading employers, carriers and brokers.
Announcement: Nayya Raises $11M in Series A for Employee Benefits