Nayya operates an AI-enabled employee benefits system of action that connects employer HR data to deliver tailored benefits experiences. The company has been an ADP partner since 2022 and currently enables smarter benefits management for over 600,000 employees on ADP Workforce Now. Its platform helps employees select, optimize, and manage benefits across areas from claims management to retirement planning. Employers can optimize benefits spending, brokers can scale and offer data-driven advice at the employee level, and carriers gain richer insights into customer needs. ADP Ventures' strategic investment is intended to deepen the relationship and extend Nayya's capabilities to ADP's client base, with the potential to reach millions of employees. The stated goal of the integration is to set a new industry benchmark for benefits guidance and employee experience. Nayya is a benefits experience platform that leverages AI and data analytics to deliver personalized benefits experiences and simplify benefits selection and year‑round utilization. The company partners with employers and benefits providers to drive higher engagement, satisfaction, and retention. Founded in 2019 and based in New York, Nayya emphasizes holistic benefit guidance that spans health and wealth. Its platform reduces the complexity of benefits selection and provides tools and insights for employees to make informed decisions. Nayya says it will continue advancing its technology and strategic partnerships as it accelerates growth and shapes the future of benefits. Nayya Health offers an algorithmic recommendation engine and a Robotic Process Automation-style digital assistant that helps employees choose benefits and navigate insurance, clinical and workplace administration. Its B2B customers are employers (and increasingly insurers) who license the engine and app and the company charges a flat monthly fee per user. Nayya says it will not become an insurance provider and positions itself as a “TurboTax” for benefits. The company has expanded beyond healthcare into life insurance, financial planning, mental health and other ancillary services. It serves enterprises as well as companies with as few as 50 employees and does not disclose total customer counts. Nayya plans to launch a product targeting freelancers and sole traders in the future and has leaned on increased transparency requirements in healthcare as an input to its algorithms. Nayya is a software and data infrastructure company transforming how employees choose and use benefits, operating a platform powered by billions of consumer data points, millions of rows of claims data, and thousands of integrations. Its core products include Choose, a personalized decision-support engine for enrollment, and Use, an AI-driven automated healthcare claims assistance and benefits engagement solution. The company said it expects to finish the first half of the year with 5x growth in sales and 3x growth in its customer base, and its total funding after the round is just under $50M. Nayya plans to use the Series B capital to grow its team and invest in new features, including an enhanced user experience with more financial recommendations, personalized benefits risk scoring, and estimates of annual healthcare spend for employees. Its Use product has launched with leading national employers and through national alliances with seven of the fifteen largest benefits brokerage firms in the U.S. Nayya was founded in 2019 and is headquartered in New York, NY. Nayya is an insurance benefits experience and management platform that leverages billions of datasets across the healthcare and insurance industries to simplify benefits selection. It helps consumers choose and utilize the right personalized benefits plans throughout the year. The company was founded in 2019 by Sina Chehrazi and Akash Magoon and is based in New York City. Customers and partners include carriers Guardian, Unum and American Public Life, benefit administrator Selerix, dozens of national employers, and alliances with several of the ten largest brokerage firms including Acrisure’s voluntary benefits division. Nayya closed an $11M Series A led by Felicis Ventures. It plans to use the funding to grow its team in New York and nationally, expand its product portfolio into additional lines of insurance, deepen consumer data and HCM integrations, and accelerate partnerships across employers, carriers and brokers.

Total raised

$106M

Funding rounds

6

Latest round

Series C

Latest activity

Mar 2022