Total amount raised
$26.8 Millions
Latest funding date
#N/A
Location
Sana has successfully raised $26.8 million over three funding rounds, with the latest being a Series A in September 2020. The company offers comprehensive health benefits tailored for small businesses, including medical, dental, and vision coverage.
Keep reading to explore the intricacies of Sana's fundraising journey and the investors backing this innovative platform.
What Is Sana?
Sana, founded by Nathan Hackley and Will Young, is a healthcare technology company based in Austin. The company aims to provide affordable, accessible, and understandable healthcare benefits tailored for small businesses.
With a focus on offering full medical, dental, and vision coverage, Sana helps companies attract and retain top talent by providing quality healthcare plans without hidden fees. Their services also include $0 healthcare options, virtual care, and a dedicated team of medical and benefits experts through Sana Care.
Since its inception, Sana has grown to employ between 51-200 people, supporting both in-office and remote work environments. For more information, visit their Wellfound page or their official website.
How Much Funding Has Sana Raised?
- Series A Round
- Amount Raised: $20.8 million
- Date: September 2020
- Lead Investors: Gigafund, Trust Ventures, mark vc
- Motivation Behind the Round: To expand operations and bring services to new states, aiming to disrupt the traditional health insurance market.
Sana has raised a total of $26.8 million with a current valuation of $100 million (~estimated).
Key Investors
- Gigafund
- Details: Gigafund is a venture capital firm co-founded by Luke Nosek and Stephen Oskoui. The firm is known for its long-term investment approach and backing transformative companies.
- Investment Focus Areas: Technology, Space, Healthcare
- Notable Investments: SpaceX, Luminous Computing, Sana
- Trust Ventures
- Details: Trust Ventures is a venture capital firm that invests in startups addressing regulatory challenges. The firm aims to support companies that can navigate complex regulatory landscapes.
- Investment Focus Areas: Healthcare, Energy, Transportation
- Notable Investments: Sana, Icon, Bractlet
- mark vc
- Details: mark vc is a venture capital firm that focuses on early-stage investments. The firm is known for its hands-on approach in helping startups scale.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Sana, Tally, Truebill
What's Next for Sana?
As Sana looks to the future, the company is poised to capitalize on the growing demand for affordable, customizable health insurance plans. By consolidating various startup health benefit providers into a single package, Sana can offer small businesses a comprehensive and cost-effective solution. The potential to save customers up to 20% on traditional plans highlights a significant market opportunity.
With a successful Series A round behind them, future fundraising efforts could include Series B and beyond, as Sana expands its operations and customer base. However, the company will need to navigate competition from established insurance giants and regulatory challenges in new states. Ensuring the quality and reliability of services from their startup partners will also be crucial as they scale.
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