What is Noyo?
Founded in 2017, Noyo operates as a foundational digital infrastructure platform designed to bridge the gap between health insurance carriers and the modern benefits technology ecosystem. By providing a unified API layer, the company enables seamless, real-time data synchronization, which is essential for the digital transformation of health insurance administration. Noyo's market position is defined by its ability to replace manual, error-prone processes with automated, scalable connectivity, thereby reducing administrative overhead for both insurers and employers. As the industry shifts toward digitized enrollment and eligibility management, Noyo serves as the critical plumbing that powers the next generation of health tech applications.
How much funding has Noyo raised?
Noyo has raised a total of $57.5M across 2 funding rounds:
Series A
$12.5M
Series B
$45M
Series A (2020): $12.5M with participation from Garuda Ventures, Core Innovation Capital, Costanoa Ventures, and Spark Capital
Series B (2022): $45M led by Norwest Venture Partners, Gusto, and Workday Ventures
Key Investors in Noyo
Gusto
Gusto is a cloud-based payroll, benefits, and human resources management platform designed for small and medium-sized businesses, focusing on workforce efficiency.
Core Innovation Capital
Core Innovation Capital is a fintech venture capital firm that invests in early-stage technology businesses aimed at unlocking wealth and health for the mass market.
Costanoa Ventures
Credo Ventures is a venture capital fund that supports ambitious founders from Central and Eastern Europe, focusing on pre-seed investments and fostering generational companies.
What's next for Noyo?
With the successful closure of its major enterprise-level funding, Noyo is well-positioned to scale its engineering and product development efforts. The strategic focus moving forward will likely involve deepening its carrier network integrations and expanding its suite of automated compliance and reporting tools. By leveraging this recent capital, the company aims to further penetrate the enterprise market, where the demand for reliable, high-speed data connectivity between disparate insurance systems remains acute. As Noyo continues to mature, its role as a central utility in the health insurance value chain is expected to grow, potentially setting the stage for further market consolidation or strategic partnerships within the broader fintech and health-tech landscapes.
See full Noyo company page
