Editor's note: In our 2023 Startups to Watch feature, the Silicon Valley Business Journal and San Francisco Business Times present startups and founders doing unique things in the Bay Area. Noyo is one of 15 we profiled this year — to read more about our mission and the other startups we're featuring, click here.
- Founded: 2017
- Founders: Shannon Goggin, CEO; Dennis Lee, COO
- What it does: Streamlines access to employee benefit data
- HQ: S.F. and Durham, N.C.
- Employees: 110
- Total funding: $61.5 million
Describe your business for someone from Mars.
We founded Noyo to bring group benefits into the modern age. As the benefits data platform powering frictionless benefits, Noyo enables fast, accurate, and secure data exchange through API-powered data infrastructure for the industry. With Noyo, crucial benefits data is synchronized, scrubbed, and made instantly available. This clean data foundation and powerful connectivity unlock new possibilities for how people experience their benefits daily. What was the “aha” moment behind your startup?
While working at Zenefits, we saw first-hand how unreliable data and brittle integrations impaired the industry’s ability to scale and deliver for its customers. We quickly realized that to build amazing benefits experiences for our employer and employee users, we needed reliable access to clean, trusted data from insurance companies and many other players across the benefits ecosystem. It definitely felt like an aha moment when we identified this gap in the market; it’s a massive opportunity to fundamentally change how benefits are delivered and accessed in the U.S. today. How do you plan to scale your business?
We focus relentlessly on solving problems for our users, and shipping things of value to them every day. We are deliberate in how we build, investing in breakthrough technology while methodically expanding our footprint in line with our user demand. In office, fully remote or hybrid?
Which is the best way for you and your team to work? We are primarily a distributed team, but we do keep office space in San Francisco and Durham and get together in person regularly. Nothing can replace that in person time!
