Kyra Health, a healthcare technology company focused on simplifying Individual Coverage Health Reimbursement Arrangements (ICHRA), has raised seed funding to accelerate development of its AI-powered benefits infrastructure platform. The round was led by Flyover Capital and Wavemaker 360, with support from venture studio partner 25Madison. The company plans to use the investment to expand its platform, support broker partnerships, and improve the experience of employers and employees navigating ICHRA-based healthcare benefits.

Founded by Lucas Hearn and Ned Jackson Lovely, Kyra Health was created to address challenges surrounding the adoption of Individual Coverage Health Reimbursement Arrangements. The company’s founders identified that while ICHRA offers employers a flexible way to provide healthcare benefits, many brokers and organizations face operational difficulties when implementing and managing these programs. Kyra Health aims to solve these challenges by providing technology that streamlines quoting, contribution modeling, enrollment, compliance, and ongoing benefits administration.

Flyover Capital led Kyra Health’s seed financing round. The venture capital firm invests in technology companies and entrepreneurs building businesses across areas including enterprise software, healthcare technology, and emerging markets. Its investment in Kyra Health reflects increasing interest in digital platforms that modernize healthcare administration and improve access to more flexible benefits solutions.

Wavemaker 360 also participated in the seed round. The healthcare-focused venture fund invests in companies developing technologies that improve healthcare delivery, operations, and access. The firm’s participation supports Kyra Health’s goal of making ICHRA adoption easier for employers, employees, and benefits professionals.

Venture studio 25Madison supported Kyra Health as a venture studio partner. The company has worked with Kyra’s founding team during its early development phase, helping the startup build its healthcare benefits technology platform and prepare for growth. Merrill Anovick of 25Madison was recognized by Kyra Health’s leadership as an important early supporter of the company’s vision.

Kyra Health’s platform is designed around the growing adoption of ICHRA, a benefits model that allows employers to provide employees with tax-advantaged funds to purchase individual health insurance coverage. While ICHRA has gained attention as a flexible alternative to traditional employer-sponsored health plans, implementation can require significant coordination between employers, brokers, insurance providers, and employees. Kyra Health aims to reduce this complexity through automation and technology.

The company’s software provides brokers with tools to manage ICHRA programs more efficiently. Its platform supports activities such as plan selection, contribution management, employee enrollment, and compliance processes. By combining software automation with healthcare benefits expertise, Kyra Health aims to help brokers deliver ICHRA solutions without adding significant administrative burdens.

For employers, Kyra Health positions its platform as a way to improve healthcare benefits management while providing employees with more personalized coverage options. The company’s technology is designed to help organizations manage costs while giving workers greater flexibility in selecting health insurance plans that fit their individual needs.

The company’s funding comes at a time when employers are increasingly exploring new approaches to healthcare benefits. Rising healthcare costs, changing workforce expectations, and demand for more flexible employee benefits have encouraged companies to consider alternatives to traditional group health insurance models. Technology platforms like Kyra Health are emerging to help businesses navigate these evolving benefits structures.

Kyra Health is focused on building an AI-native infrastructure layer for ICHRA administration. The company believes that improved automation and intelligent workflows can make healthcare benefits easier to manage for all participants in the ecosystem, including employers, brokers, and employees.

The startup’s seed investment will allow Kyra Health to continue expanding its product capabilities and supporting adoption among benefits professionals. The company plans to strengthen its technology platform, grow partnerships, and further develop tools that simplify healthcare benefits administration.

With seed funding from Flyover Capital, Wavemaker 360, and support from 25Madison, Kyra Health is positioned to continue building technology that addresses the operational challenges of modern healthcare benefits. The company aims to make ICHRA implementation more accessible and efficient by combining artificial intelligence, automation, and healthcare expertise into a single platform.

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