Nava raises $20 million

NYC-based employee benefits brokerage Nava has raised a $20 million round of financing from Thrive Capital.

Founded in 2019 and led by CEO Brandon Weber, the company offers a benefits solution that combines modern healthcare tools, year-round employee advocacy, and ongoing measurement to improve employee engagement and drive down costs for small-to-midsized companies.

“In our conversations with hundreds of employers across America, we saw scattered examples where mission-oriented consultants, when armed with the right resources, transformed benefits programs, saving employers 20-40% while at the same time dramatically improving the employee experience. These insights led us to the view that the benefits broker could be the most critical change agent in the American healthcare system as they are the de facto buyer of health and related benefits for 160 million Americans who are covered by an employer. We now know that the tools and playbooks for transformation exist, and Nava aims to bring them to the market, at scale.” – Brandon Weber, co-founder and CEO of Nava.

“While there’s an encouraging amount of innovation happening in healthcare, these solutions are continually challenged by their inability to reach widespread adoption by employers – and their employees. Nava aims to change that by fixing the go-to-market channel for healthcare innovation. Having previously invested in Brandon [Weber] and Donald [DeSantis]’s last company, we’re excited to partner with them as seasoned founder operators who can leverage their deep experience modernizing brokerage models and apply it to healthcare.” – Kareem Zaki, General Partner at Thrive Capital and co-founder of Nava.

Bottom Line: Nava rhymes with Nayya.