Noyo, a leading API platform in the benefits industry, announced that it has raised $45 million in its Series B financing round. The funding, led by Norwest Venture Partners and joined by Workday Ventures and Gusto, will be used to further develop Noyo’s technology that improves the administration and delivery of employee benefits.
This round of financing represents a significant endorsement of Noyo’s mission to provide a modern and seamless benefits experience for employees. The COVID-19 pandemic and the rise of remote work have complicated the way companies offer benefits, making them increasingly critical for attracting and retaining talent.
“Every person deserves to feel protected and supported by their benefits,” said Shannon Goggin, CEO and co-founder of Noyo. “Our technology streamlines the digital transformation of the benefits industry, providing fast, accurate, and secure data exchange through our API-powered infrastructure.”
Noyo has already established partnerships with major insurers and benefits software platforms, including Ameritas, Anthem, Beam, Guardian Life, Humana, Rippling, Unum, and Zenefits. With this latest funding, Noyo plans to expand its offerings, form new partnerships, and reach more audiences and industries.
To learn more about Noyo and its technology, visit www.noyo.com.
