Nayya, the US-headquartered developer of a healthcare benefits management platform, raised $11m yesterday in a series A round featuring insurance providers Guardian Life and Unum.
The round was led by Felicis Ventures and included fellow venture capital firms Social Leverage and Cameron Ventures, while Guardian Life and Unum invested through Guardian Strategic Ventures and Unum Business Ventures respectively.
Founded in 2019, Nayya provides personalised medical benefit recommendations for US-based workers using healthcare and insurance claims data. It will use the funding to expand its product portfolio, grow its staff and pursue more partnerships with employers, insurance providers and brokers.
Nayya co-founder and CEO Sina Chehrazi said: “Selecting the right insurance can be a difficult and costly process, particularly with added concerns and health risks brought on by the pandemic.
“Our investors recognise the power behind Nayya’s technology to harness the massive proliferation of data produced across the healthcare and insurance industries.”
Guardian Strategic Ventures took part in a $2.7m seed round for Nayya in July 2020 that was led by Social Leverage and which included Cameron Ventures, Soma Capital and unnamed angel investors. Its existing backers include Entrepreneurs Roundtable Accelerator.