Noyo Secures $12.5M Series A Funding and Announced Partnerships with Humana, Ameritas

Cision PR Newswire | September 28, 2020

Noyo, the leading API platform for improving the speed and accuracy of health insurance data exchange, today announced that it has closed $12.5M in Series A funding 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. The new funding will extend Noyo's breakthrough technology to support the entire insurance lifecycle from start to finish, with APIs for everything from price quotes through member enrollment. Noyo also announced new partnerships with leading insurance carriers Humana and Ameritas, aimed at improving the overall consumer experience by enabling seamless and secure data connections to enroll members faster and eliminate coverage-impacting errors.

Spotlight

As previous generations retire and move to a life stage in which they consume fewer products and services, younger millennial and Gen Z adults between the ages of 18 and 38 are becoming more relevant to the insurance industry in terms of size and spending power. Of the global population, millennials and Gen Z account for 27% (2 billion people)1 and 24% (1.83 billion people)2 respectively, and combined, have purchasing power estimated to be in the trillions of dollars annually.

Spotlight

As previous generations retire and move to a life stage in which they consume fewer products and services, younger millennial and Gen Z adults between the ages of 18 and 38 are becoming more relevant to the insurance industry in terms of size and spending power. Of the global population, millennials and Gen Z account for 27% (2 billion people)1 and 24% (1.83 billion people)2 respectively, and combined, have purchasing power estimated to be in the trillions of dollars annually.

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