# Sana Benefits

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sana-benefits

- Industry: Insurance
- Headquarters: Dallas, US
- Website: www.sanabenefits.com
- Total disclosed funding: $107M
- Latest round: Series B (May 2, 2022)
- Investors on record: 8

## About

Sana Benefits provides tailored health insurance solutions for small businesses, focusing on enhancing employee satisfaction and reducing healthcare costs through integrated care and navigational services.Founded in 2017, Sana Benefits, Inc. offers health insurance solutions designed for small businesses. The company is headquartered in Dallas, US. The founders, Nathan Hackley and Will Young, have a history in the startup ecosystem. In May 2022, the company raised USD 60.10 mn in a Series B funding round led by Gigafund and Trust Ventures, bringing its total amount raised to USD 60.10 mn and its current valuation to USD 428.41 mn.Sana Benefits offers a comprehensive suite of health insurance solutions tailored for small businesses. Their core product includes dependable health benefits, integrated care, and navigational services that cater to employee needs. Each plan features access to Sana Care, which provides members with medical guidance, referrals, and personalized care, enhancing the healthcare experience while allowing them to maintain relationships with preferred providers without out-of-network fees. The company serves over 1,000 small businesses across the United States, aiming to improve employee satisfaction and reduce employers' healthcare costs.Sana Benefits generates revenue through B2B transactions with small businesses that enroll in their health insurance plans. Their offerings include comprehensive medical, dental, and vision coverage, designed to be cost-effective for employers. Businesses reportedly save up to 20% when switching to Sana. The revenue model is subscription-based, allowing businesses to manage benefits efficiently during open enrollment and real-time employee changes. High renewal rates are observed, with nine out of ten businesses opting to renew their plans with Sana following the initial year.In May 2022, Sana Benefits raised USD 60.10 mn in Series B funding, co-led by Gigafund and Trust Ventures, to support growth and scalability. The company plans to expand its product offerings and enhance service delivery, focusing on further geographical expansion across the United States. The recent funding will be pivotal in developing new products and supporting these expansion initiatives to meet the growing demand for their health insurance solutions.

## Funding rounds

- Series B, May 2, 2022, $60M — Breyer Capital, American Family Ventures, Liquid 2 Ventures, Gigafund, Trust Ventures, Mark VC, Jam Fund
- Series A, Sep 17, 2021, $20M — Breyer Capital, American Family Ventures, Gigafund, Trust Ventures, Mark VC, Jam Fund, Ad Ventures
- Series A, Sep 9, 2020, $21M — Gigafund, Trust Ventures, Mark VC
- Seed, Oct 29, 2019, $6.3M — Gigafund, Trust Ventures

## Investors

- Gigafund (https://capitalatlas.ai/funds/gigafund) — Seed, Series A, Series B
- Trust Ventures (https://capitalatlas.ai/funds/trust-ventures) — Seed, Series A, Series B
- Mark VC (https://capitalatlas.ai/funds/mark-vc) — Series A, Series B
- Breyer Capital (https://capitalatlas.ai/funds/breyer-capital) — Series A, Series B
- American Family Ventures (https://capitalatlas.ai/funds/american-family-ventures) — Series A, Series B
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series A, Series B
- Ad Ventures (https://capitalatlas.ai/funds/ad-ventures) — Series A
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Series B