We are pleased to announce Fund III portfolio company Nayya has raised $55 million in a Series C equity round led by ICONIQ Growth. Since we first invested in Nayya in July of 2020 ($2.7 million round), they have raised raise two more rounds totalling $48 million in 2021.
Nayya’s digital assistant helps users navigate the complexity of insurance using AI and data science to personalize how employees choose and use benefits.
Co-founder and CEO Sina Chehrazi told TechCrunch that last year nearly 600,000 people filed for bankruptcy because of healthcare issues. About 63% of them had insurance, but lacked information on how to get the best out of their policies. While institutions and lawmakers shoulder a bulk of the responsibility, Sina noted, “Nayya’s approach is solving the pain today by helping people choose the right plans and use them.”
My partner Gary has spent time with co-founders CEO Sina Chehrazi and CTO Akash Magoon since the beginning, and know both are driven to improve healthcare outcomes for consumers. We’re proud to be early supporters and proud of what the team has accomplished so far.
Nayya is an incredible company, with incredible founders and vision and execution to date. It is amazing that Gary was able to source, diligence and invest in Nayya using Zoom only at the beginning of the pandemic.
