Noyo through its leading benefits data platform has brought $45M in series-B where the round was joined by Workday Ventures, Gusto, Cap Table Coalition, and existing investors Costanoa Ventures, Spark Capital, Homebrew, Operator Collective, Fika Ventures, Precursor Ventures, Garuda Ventures, Core Innovation Capital, and Webb Investment Network.
Companies’ benefit software requires their numerous employees and documents to sync with the required policy-protected insurances through the fast track services. Noyo provides its API (Application programming interface) to connect various insurers with their software infrastructure containing trustworthy solutions.
Noyo is looking towards a more open and connected modern insurance system through the current raised amount of $45M.
Noyo’s automation strategy with clean and trusted data has brought them to zeniths. Various other reasons for their business flourishment have been unfolded below. Let’s have a look at them.
What Binds Customers With Noyo
Let’s find the reason that binds Noyo with its customers and has raised $45M in Series-B.
- API Technology
Noyo brings a justified set of systems through its API technology for its insurance carriers and thus empowers them with frictionless benefits. This is done by an automation strategy that self-evaluates if a candidate fits under the insurer’s shell of rules.
- Best Benefit Experience
By swiftly connecting with Noyo’s APIs, one can have an accurate data exchange with the insurers. Real-time visibility and powerful active automation with clean and trusted data are the benefits that come attached to it.
- Quick Installation, Enrollment, and Renewal
Noyo offers full-featured API settings for benefits, where the candidate can quickly install a new group in the carrier’s system and confirm enrollment. Similarly, send transactions, receive confirmations and automate accuracy with APIs and confirm it much faster to eliminate manual work.
- Integrate Once and Scale Quickly
By integrating various products like “Noyo Sync” and “Noyo Send”, one can accelerate growth and streamline operations. With Noyo, the essential benefit data is instantly available to the users, thus it has changed the traditional manual processes.
From installation to renewal, the hectic process of maintenance can be avoided with efficient features and tools of Noyo that integrate once and scale quickly.
- Transforming Employee Benefit Ways
Millions of consumers enjoy benefits and to ensure its background systems coordinates, Noyo’s products, and series are developing to grow influence, and create amazing experiences for consumers through their hardworking team.
Noyo is also working on the roots of a problem that has not been solved before. According to Noyo’s CEO and Co-founder, “the industry is changing and consumers expect more. Noyo is a bridge of a future where insurance data moves freely, so coverage is always there when you need it.”
Leading Partners of Noyo Till Now & Specs
Leading partners of Noyo are as follows,
- Plan source
Humana and Ameritas are insurers that believe in Noyo practices and its management services. “I can trust that transactions going through Noyo are going to be right; that peace of mind is huge” are the shared thoughts of Beam Dental, one of Noyo’s customers.
Ameritas recalls their experience with the kind statement, “With Noyo, partnering with the software platform our customers love is easier than ever”.
|Address||San Francisco Bay Area, West Coast, Western US|
|CEO||Shannan Goggin, Dennis Lee|
|Industry Related to||Fintech, IT, Healthcare|
|Legal Name||Noyo Technologies|
Noyo; Future of Benefits Data Exchange
Noyo can be called “Future of Benefits Data Exchange” and “Age of connected benefits‘ ‘ as the instant access to quality healthcare, financial and various other protection support was now brought by the Noyo’s API bridge that ensures a trusted future. Here are some of the virtues of the company that shines among the various competitors rolling in the market.
- Data Validation at Policy Level
With enrollment and eligibility changes with a faster speed and accuracy, Noyo syncs with your detailed policy-level data from your system and protects you from any error that might obstruct your way in the process itself.
- Complete API Strategy That Scales
Noyo is renowned for its best benefit services and inbuilt trust in customers through their strategic software and tools, where Noyo sync delivers new, bidirectional capabilities and an unparalleled partner experience in return.
- Seamless Member Management
Benefit software of the company sends all member-level changes through the Noyo API to provide thrust to the system, where no file-based system workflows and blackout periods exist.
- Unmatched Accuracy
Noyo’s API infrastructure has the in-built Fintech software that validates changes only when the notification arrives and performs various group-level checks to unlock the hindering issues, therefore, have an unmatched accuracy.
Noyo Software Product Features
Here is a list of three important Noyo software that maintains its pride in the API software which has an unmatched accuracy performance degree intact and has let Noyo lead $45M in Series-B. Without any further ado, let’s get to know them briefly one by one.
- Noyo Sync
Unlike the manual system, processes, and solutions that run the data only in one direction, Noyo ensures the best partner experience by providing bidirectional capabilities. A service that is much, fast, secure, and trustworthy.
- Noyo Send
The existing system of Noyo can run one to many APIs at the same time. The infrastructure of their application programming interface plugs into the existing systems and runs fast and flexibly to provide insurers and customers with quick services.
- Noyo 360
Noyo 360 tool provides the advantage of assisting its customer from installation to the renewal stage in leveraging the benefits. They provide a seamless administration experience to their clientele, with modern data exchange behind the scenes.
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Ans: The last funding of Noyo series-B $45M was held on May 19, 2022.
Ans: Competitors of Noyo may include Ottonova, Concert Health, and Push Doctor.
Ans:Noyo was founded in 2017 by Dennis Lee and Shannon Goggin.
Ans: It is a profit-based company, and they have an active operating status.
Ans:Currently, Noyo has 13 investors and some of their investors include Gusto and Spark Capital.