Sana

Sana

Provides health benefits for small businesses

About Sana

Simplify's Rating
Why Sana is rated
B
Rated A on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Healthcare

Company Size

201-500

Company Stage

Series B

Total Funding

$106.8M

Headquarters

Austin, Texas

Founded

2017

Overview

Sana Benefits provides health insurance solutions specifically designed for small businesses. Their offerings include comprehensive health plans that cover medical, dental, and vision needs, along with additional services like virtual care, maternity support, and lab imaging. The plans are structured to be affordable and accessible, aiming to eliminate common barriers associated with traditional health insurance. This approach not only helps small businesses offer attractive benefits to their employees but also aids in retaining talent, ultimately saving costs over time. Sana Benefits simplifies the management of these health plans, allowing businesses to easily handle tasks such as open enrollment and employee adjustments, while also providing clear insights into claims spending. With a strong focus on customer satisfaction, Sana Benefits boasts a high renewal rate, indicating that many businesses choose to continue their partnership after the first year.

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Simplify's Take

What believers are saying

  • Expansion into Alabama and Wisconsin opens new markets and revenue opportunities.
  • Partnership with Miga enhances cardiovascular care, attracting more small business clients.
  • $60 million Series B funding supports technology investment and market expansion.

What critics are saying

  • Recent layoffs may impact service quality and customer satisfaction.
  • Expansion into new markets could lead to operational challenges and competition.
  • Transition to a combined health plan model may face integration challenges.

What makes Sana unique

  • Sana offers $0 healthcare options, virtual care, and comprehensive health plans.
  • The company simplifies benefits management for small businesses, enhancing user experience.
  • Sana's high customer retention rate indicates strong customer satisfaction and loyalty.

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Funding

Total Funding

$106.8M

Above

Industry Average

Funded Over

4 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$60M
Sana
$65M
Substack
$100M
ClickUp

Benefits

Competitive salary & equity

100% remote

Monthly WFH stipend

Flexible PTO

Medical, life, dental, & vision

Paid parental leave

Charity matching

Growth & Insights and Company News

Headcount

6 month growth

4%

1 year growth

4%

2 year growth

2%
Silicon Hills News
Nov 5th, 2023
Sana Lays Off Half of its Staff

Sana laid off 74 employees last Wednesday, about half of its staff, according to a post on its website.

Coverage
Nov 3rd, 2023
Sana Benefits Lays Off 73 Employees

Sana Benefits, <i class="fa fa-info-circle company-popover" data-content="h3Sana Benefits/h3. div. table

Vator
Sep 11th, 2023
Miga partners with Sana Benefits to expand cardiovascular care access

Miga partners with Sana Benefits to expand cardiovascular care access.

Coverage
Sep 11th, 2023
Miga And Sana Benefits Announce Partnership

Miga, <i class="fa fa-info-circle company-popover" data-content="h3Miga/h3. div. table

Hit Consultant
May 19th, 2023
Digital Health Exec Hires & Departures: Ed Marx Departure, Others

Health IT veteran Ed Marx announces his departure as CEO at Divurgent to launch his advisory company, Marx Advisory focused on helping healthcare executives organizations achieve objectives and key results.Particle Health appointed Jason Prestinario as its next CEO, effective today. Troy Bannister, founder and current CEO, will continue with Particle as Chief Strategy Officer, where he will spearhead product innovation.Rhapsody names Jeff Chiumiento as the company’s new chief financial officer to oversee the company’s global financial operations and optimizing business management.Zyter|TruCare™ appoints Jason Cole, as the company’s new executive vice president and chief operating officer.  Cole will report directly to Chief Executive Officer, Kevin Riley, and be responsible for driving enterprise performance overall and deepening the customer and employee-centric operating model.Sana Primary Care appoints virtual primary care pioneer Dr. Jay Parkinson as Chief Medical Officer. Healthcare entrepreneur and physician will lead Sana’s virtual primary care model and its transition to a combined health plan and in-house care delivery model.ModMed® appoints Venkatesh Jayaraman (VJ) as the company’s Chief Technology Officer to lead the strategic direction and technical leadership for the product engineering organization, including cloud operations.MedArrive appoints Peter Samuel, MD (“Rocky”) as Chief Clinical Officer. Dr. Samuel will oversee MedArrive’s home-based clinical programs, help establish clinical protocols and quality standards to ensure strong performance, lead the strategic leadership in developing new use cases and programs, while also spearheading future-forward planning. Virta appoints Dr

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