Health insurance API platform raises $12.5 million
Health insurance API platform Noyo announced a $12.5 million Series A funding round from Costanoa Ventures and Spark Capital, with continued support from early investors including Homebrew, Fika Ventures, Precursor Ventures, Core Innovation Capital, Garuda Ventures and Webb Investment Network.
Founded in 2017, the startup is a team of ~20. The company looks to streamline data exchange between carriers and their partners to reduce inefficiencies during benefits enrollment.
“It should be simple for someone heading to the doctor to confirm, right on their phone, that they are covered for the visit. Someone considering a new job offer should be able to factor in how the benefits package meets their needs. Noyo works every day to make those experiences possible – we take care of the technology under the hood so software teams can stay focused on building the tools people deserve.” – Shannon Goggin, CEO and co-founder of Noyo.
The San Francisco-based company also announced its partnership with insurance carriers Humana and Ameritas .
“We have already seen how working with Noyo drives down enrollment costs and improves speed and accuracy at a critical time for Americans needing health insurance coverage.” – Gary Davis, Humana’s National Leader for General Agents, Digital Initiatives, & Small Business Sales.
“With Noyo, partnering with the software platforms our customers love is easier than ever, combining the trusted Ameritas brand with powerful technology that unlocks amazing experiences.” – Drew Fleming, Senior Vice President of Group Distribution and National Partners at Ameritas.