Total amount raised
$105.7 Millions
Latest funding date
8/1/2024
Location
Nayya has successfully raised significant funding over multiple rounds, positioning itself as a key player in the employee benefits sector. The company's AI-powered platform integrates health and wealth data to enhance the value of employee benefits.
Keep reading to explore the intricacies of Nayya's fundraising journey and the investors backing this innovative platform.
What Is Nayya?
Nayya is revolutionizing the employee benefits landscape with its AI-powered platform, designed to help employees make informed decisions about their health and wealth benefits. Founded by Sina Chehrazi and Zack Pace, the company is headquartered in New York City.
Since its inception, Nayya has focused on integrating health and wealth data to enhance the value of employee benefits, aiming to improve overall well-being. The company has grown rapidly, now employing a dedicated team of professionals committed to this mission.
With a strong foundation and innovative approach, Nayya continues to lead the way in transforming how people choose, use, and maximize their employee benefits.
How Much Funding Has Nayya Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Nayya's AI-powered platform.
- Seed Round
- Amount Raised: $2.7M
- Date: June 2020
- Lead Investors: Social Leverage
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $11M
- Date: January 2021
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: $37M
- Date: June 2021
- Lead Investors: ICONIQ Growth, SVB Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and platform development.
- Series C
- Amount Raised: $55M
- Date: March 2022
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product innovation and expand partnerships.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: August 2024
- Lead Investors: ADP Ventures, Workday Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and expand market reach.
Total Amount Raised: $105.7M
Current Valuation: Not publicly disclosed
Key Investors
- ICONIQ Growth
- Details: ICONIQ Growth partners with entrepreneurs and leaders to drive global impact and change. They leverage ICONIQ Capital's ecosystem to support portfolio companies from early growth stages to IPO and beyond.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Airbnb, Snowflake, Uber.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage companies across various sectors. They focus on transformative ideas and innovative solutions.
- Investment Focus Areas: Consumer, enterprise, health, frontier technologies.
- Notable Investments: Not publicly disclosed.
- Social Leverage
- Details: Social Leverage is a venture capital firm that invests in exceptional entrepreneurs in the early stages of their companies. They provide capital, mentorship, and strategic guidance.
- Investment Focus Areas: Fintech, enterprise software, consumer internet.
- Notable Investments: Robinhood, Rally Rd, Kustomer.
- SVB Capital
- Details: SVB Capital is the venture capital arm of Silicon Valley Bank, focusing on providing financial services and support to innovative companies. They invest in funds and directly in companies.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Not publicly disclosed.
- ADP Ventures
- Details: ADP Ventures is the investment arm of ADP, focusing on innovative solutions that enhance the future of work. They invest in companies that align with ADP's strategic goals.
- Investment Focus Areas: HR technology, workforce management, payroll solutions.
- Notable Investments: Not publicly disclosed.
What's Next for Nayya?
Nayya stands at the cusp of a significant opportunity to transform how Americans select and utilize their benefits. With the complexities of healthcare and benefits selection growing, Nayya's AI-driven platform offers a personalized experience that can potentially impact millions of employees. The company's rapid growth, evidenced by a 7x revenue increase in 2021, underscores the vast market potential.
Future fundraising efforts are likely to focus on accelerating product innovation and expanding partnerships with major healthcare solutions and large employers. As Nayya continues to scale, it may attract further investment to support its ambitious goals. However, navigating the intricate healthcare landscape and ensuring data privacy will be critical challenges. Competing with other digital health companies will also require strategic agility and continuous innovation.
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