Nayya, a leading employees benefits experience and healthcare management platform, has raised $55m in Series C financing led by existing investor ICONIQ Growth.
ICONIQ Growth was joined by new investors Transformation Capital along with existing investors Felicis Ventures and SemperVirens. As part of the financing deal, Mike Dixon from Transformation Capital will join the company as a board observer.
The current round comes on the heels of a $37m Series B round announced nine months ago.
According to Nayya, it provides consumers with a personalised benefits experience that meets the realities of today’s health and financial landscape, helping Americans gain control at a time of rapid inflation and growing debt.
The company said that the majority of American don’t understand choices presented to them which they have to select during open enrolment, and often spend too much on insurance benefits they do not use.
Nayya’s platform, powered by AI and data science, allows employees to receive proactive and personalised guidance to improve health and wellness outcomes, using their personal data to make smarter healthcare and benefits decisions.
Mike Dixon, managing partner at Transformation Capital, said, “Nayya has successfully integrated Artificial Intelligence into the entire benefits experience – creating a consumer-driven platform that erases benefits-related confusion and stress – while solving a massive challenge almost all businesses and their employees face.
The latest funding will be used to accelerate product innovation, expand partnerships with major healthcare solutions, bolster collaboration with some of the country’s largest employers, and continue investment in expanding Nayya’s connected data footprint to deliver stronger consumer experiences.
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