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  • #152: Akash Magoon, Co-Founder and CTO of Nayya, on Choosing an Accelerator, Raising a $2.7M Seed Round, and Navigating the Complexities of the Health Insurance Industry

#152: Akash Magoon, Co-Founder and CTO of Nayya, on Choosing an Accelerator, Raising a $2.7M Seed Round, and Navigating the Complexities of the Health Insurance Industry

August 24, 2020

Akash Magoon is the co-founder and CTO of Nayya, an AI platform that simplifies insurance decisions for business leaders and benefits managers--and improves the healthcare experience for individual employees. Nayya uses AI and data science to personalize the way that employees choose and use their benefits. Nayya helps employees promote their health and wellbeing, while maximizing financial wellness.

Nayya is backed by Social Leverage, Guardian Strategic Ventures, Cameron Ventures, and Soma Capital -- and completed a top accelerator program (ERA) in New York.

Connect with Akash Magoon

Some of the Topics Covered by Akash Magoon in this Episode

  • What is Nayya

  • How Akash and his co-founder Sina Chehrazi started Nayya and the problem they're trying to fix

  • The decision to leave their jobs early on in their venture

  • The challenge of fundraising early through family and friends for Nayya

  • Choosing an accelerator and participating in the Entrepreneurs Roundtable Accelerator

  • Getting their first customers

  • How their product has changed based on customer discovery and identifying pain points

  • How Akash views failure

  • How COVID has affected Nayya, their fundraising and their industry

  • Akash's advice for entrepreneurs looking to get seed round funding

  • Figuring out distribution of funds

  • Akash's role as CTO

  • Building out the Nayya team and culture screening in hiring

  • The issue of being under-insured in the U.S. and understanding the complexities of the industry

  • The elements of Nayya's product

  • Growing Nayya moving forward and balancing short versus long term planning

  • Expectations versus reality with entrepreneurship

  • What Akash does to recharge from work

  • Akash's advice for entrepreneurs

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