Digital health startup Nayya Health, which offers a recommendation engine to help people choose benefits and a digital robotic process assistant (RPA), has closed a $55 million Series C equity round, according to a press release Tuesday (March 1).
Venture capital firm ICONIQ Growth led Nayya Health’s funding round, with contributions from Transformation Capital, Felicis Ventures and SemperVirens. Nayya completed a seed funding round in July 2020 and had two more funding rounds in 2021 totaling $48 million.
Nayya Health has a valuation between $500 million and $750 million, co-founder and CEO Sina Chehrazi said in an interview with the Hindustan Times.
“We’ve been living in a world where if you go to a hospital on the right or left side of a street, you might be paying a different amount of money of the same procedure,” he said in the interview. “People cannot understand their healthcare on the best days and struggle to use on their worst days.”
Nayya’s approach to healthcare, said Chehrazi, is “solving the pain today, by helping people choose the right plans and use them.”
Employers contract with Nayya to provide its engine (and app) to its employees to help them figure out what benefits they should take, based on their health histories and other factors, including existing doctors and their networks. When claims are being made, it helps them figure out how to get the most out of those exchanges. Nayya has also been contracting with insurance companies.
Related: Johnson & Johnson-Microsoft Pact Shows Transformative Potential of Connected Healthcare
In January, Johnson & Johnson Medical Devices Companies (JJMDC) and Microsoft are linking up to integrate Microsoft’s cloud computing capabilities across JJMDC’s medical ecosystem.
Johnson & Johnson said in the joint announcement it would “collaborate with Microsoft to further enable and expand JJMDC’s secure and compliant digital surgery ecosystem.
“The Microsoft Cloud will help JJMDC realize its vision of driving innovation that advances skills, improves workflow and enhances surgical decision making for a better overall customer experience and improved patient and economic outcomes,” the announcement said.
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