Funding and product launch advance company's efforts to make high-quality, affordable healthcare accessible to all Americans

NEW YORK: Nava Benefits today announced the launch of HQ, the industry’s first AI-powered benefits platform built to eliminate benefits busy work for HR teams, deliver a powerful renewal experience that unifies quoting, benchmarking and demographics, and gives HR and employees instant answers to their benefits questions. The HQ launch coincides with the close of its $30M Series C round, led by Thrive Capital, allowing the company to advance its mission to make high-quality, affordable healthcare accessible to all Americans.

“American healthcare is broken,” said Brandon Weber, Nava co-founder and CEO. “Nava was founded to fix a healthcare system that overwhelms HR teams and underserves employees. The launch of HQ, the first platform to unite AI with deep benefits expertise, marks a true inflection point for us and for the industry. With this new funding, we can accelerate our mission and help HR teams take control of the largest investment behind their people.”

Nava’s HQ is designed to save today’s HR professionals time by replacing spreadsheets, email, and chaos with one command center for every part of the benefits process. The HQ platform enables real-time contribution modeling, allowing users to see how benefit changes affect costs instantly without spreadsheets. HQ customer Heerva Macwan, VP of HR, Hackman Capital Partners states, “HQ frees me from day-to-day admin so I can focus on delivering better employee experience.”

All benefits documents are centralized and searchable, while a mobile app provides employees 24/7 AI-powered support. Lena Bradshaw, VP of HR at Caltrol reports, “No more digging for answers. HQ gives us instant answers to our benefit questions—and saves hours.”

Beyond core functionality, HQ includes built-in compliance features that flag errors and track deadlines to prevent costly mistakes, all backed by SOC 2 Type II certification and HIPAA compliance for enterprise-grade security. “HQ is everything we love about the Nava partnership, but on-demand,” says Matthew Burns, Director of People Operations at Job&Talent.

Coinciding with the launch of HQ, Nava has also closed over $30 million in funding for its Series C round, led by Thrive Capital, with participation from Glynn Capital, GV, Quiet Capital, Gaingels, People Tech Partners, Fenwick, Alumni Ventures, and Pascal Ventures. The HQ launch and new funding come on the back of significant momentum as Nava continues to scale: the company has seen rapid customer growth with 160% YoY logo increase, over 70,000 members served and a lifetime NPS of 89.

"AI is reshaping the way work gets done across every industry, and HR professionals deserve modern, intelligent tools to match the moment,” said Kareem Zaki, co-founder of Nava and partner at Thrive Capital. “Nava is uniquely positioned to lead this transformation and we're excited to help accelerate their progress in revolutionizing benefits administration for the better.”

This funding round positions Nava to accelerate its AI roadmap focused on eliminating ever more busy work for HR teams, their employees, and Nava's service professionals. The funding will also fuel expansion into new markets and enable Nava to grow its team of skilled benefits professionals.

About Nava Benefits

Nava is one of the fastest growing benefits brokerages in America and the first to fuse innovative technology with deep benefits expertise to make great benefits easy for growing businesses. Through delivering a better renewal strategy, benefits back-office support, and modern member support, employers turn to Nava to lower costs, delight employees, and augment HR teams. Driven by a mission to fix healthcare, Nava is proud to be recognized as part of Inc's Power Partner 2023 list as well as the 2024 New York Digital Health 100 (DH100). For more information, visit www.navabenefits.com.

Fonte: Business Wire