Nayya Raises $37M in Series B Funding

Nayya, a NYC-based insurance benefits experience and healthcare management platform, raised $37M in Series B financing.

The round, which brought total funding to just under $50M, was co-led by SVB Capital and ICONIQ Growth, with participation from investors Bow Capital, Felicis Ventures, Social Leverage and SemperVirens and returning investors Guardian Strategic Ventures and Unum Business Ventures, alongside health insurer CNO Financial Group.

The company intends to use the funds to grow the size of its team and invest in new features for its core offerings.

Co-founded in 2019 by Sina Chehrazi and Akash Magoon, Nayya provides:

  • 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’s employee engagement product tracks financial spending to guide and redirect consumers to file claims programmatically, manage spending accounts, and optimize prescription locations.