Sana Benefits raised $6.3 Million for its employer benefits platform that leverages data and automation to provide improved choice and lower costs for healthcare benefits to employers. By leveraging data and automation and associated administration costs Sana has been able to drop employer rates lower than 30%, Sana CEO Will Young told VentureBeat.
Sana is focusing on employers with less than 1,000 employees. It’s a large market segment, however they’ll be competing with brokers and incumbent HR tech that is also focused on much of the same value proposition. They are differentiating based on having an employer focus, however we can find no mention of how Sana will integrate into Core HR and payroll systems, well-being providers, or the employee experience. This may be a blind-spot for Sana as they enter the HR and benefits market. Most start-ups market. Most startups underestimate the existing ecosystem and complexity around HR issues. We’ll keep an eye on them.
Source: Sana Benefits gets $6.3 million to disrupt ‘Stone Age’ health care insurance industry | VentureBeat