If you’re in the insurance industry, you may have heard about Nayya, the insurance benefits management platform that recently closed a $11 million series A round led by Felicis Ventures. The startup plans to use the funds to further develop their product and hire new talent.
Nayya Has Closed A Series A Round Led By Felicis Ventures
Insurance benefits management platform nayya ai series ventureswiggersventurebeat
has raised $11 million in a series A round led by Felici Ventures. The investment is aimed at deepening its HCM integrations, as well as expanding its partnerships with carriers. The company also intends to use the funds to expand its team and add new features.
BukuWarung has already raised $20 million. Its previous funding round was around $15 million. The company was founded by Chinmay Chauhan and Abhinay Peddisetty and participated in Y Combinator last year. Nayya, on the other hand, is a software company that aims to personalize the benefits experience for employees. With this funding, the company plans to expand its platform, partner with more healthcare solutions, and expand its connected data footprint.
Nayya is expanding its services beyond healthcare and is expanding into the areas of financial planning and retirement benefits. Its platform allows employees to make smarter choices and save money on their healthcare expenses. Its AI-driven recommendations help individuals and employers find the best plan based on their specific needs and goals. In addition, it focuses on ancillary services like mental health.
Nayya is the latest venture capital investment to raise $10 million. The company is launching its enterprise platform and plans to use the funding to build its team and platform. This funding round follows a $4.5 million seed round from Felicis Ventures.
Nayya provides personalized health plans based on their users’ risk factors. The software asks employees a series of questions about their lifestyle and health and then compares various plans based on these factors. It also provides a list of insurance partners, including Colonial Life, Unum, and Acrisure. However, Nayya’s most important feature is its ability to save employers money.
The new funding will help Nayya expand its service offering to other companies. The company has seen a significant increase in enrollments for voluntary and fringe benefits. In addition, the number of employees enrolled in health savings accounts has increased dramatically. Nearly 80 percent of eligible employees have an HSA and the average contribution is over $ 1,400 per year. Other investors who participated in this funding round include Social Leverage, Guardian Life, and Unum Business Ventures.
