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Secondary marketplace / Explore private companies / Sana IPO
Sana

Sana IPO

$87.82MM
Series 2 Valuation, Dec 2025
Completed M&A
Learn More About Sana Stock
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Sana IPO date and status

2017
Founded
Nov 2025
MA Closed
newsroom.workday.com

Company details

Sana provides health insurance options to small businesses that include primary, urgent, and mental health care. Businesses utilizing Sana can extend benefits to include dental and vision care via their partners. Sana was founded in 2017 by William Young and Nathan Hackley and is headquartered in Dallas, TX.
sanabenefits.com
Sector
Enterprise Software
Subsector
Business Operations
Founded
2017
Headquarters
Dallas, TX, United States
Founder
William Young
Forge Price 1
Price not available
Market Activity 2
Limited
Last Matched Price
Get Full Access
Post-Money Valuation 3
$87.82MM
Total Funding
$132.85MM
Last Funding Round
Series 2

Learn more about Sana

To invest in Sana pre-IPO

Can you invest in Sana pre-IPO?

You can no longer invest in Sana with Forge. But if you are an accredited investor interested in buying pre-IPO shares of a private company, you can learn more about how to invest in the private market or register today to get started.

Can you sell shares of Sana before it goes public?

You can no longer sell shares of Sana on Forge as this company is no longer private. However, if you own shares of a private company, Forge may be able to help you sell them in a way that works for you and the company. Learn more or register with us today to get started.

What is the pre-IPO value of my Sana shares?

Forge can no longer determine the value of Sana shares as this company is no longer private. However, if you own shares of a private company, Forge may help you value and sell them in a way that works for you and the company. Learn more or register with us today to get started.

Is Sana a publicly traded company?

Sana became a public company following its M&A on 11/04/2025 and is now a publicly traded company.

To learn more about Sana potential IPO

Will Sana go IPO?

Sana became a public company following its M&A on 11/04/2025.

What is Sana’s IPO price?

The IPO price of Sana is not currently available.

When was Sana founded?

Sana was founded in 2017.

What is Sana funding to date?

Sana has raised $132.85MM to date.

Sana major investors

American Family Ventures
Breyer Capital
Earl Grey Capital
Liquid 2 Ventures
Toba Capital

Sana pre-IPO valuation and funding rounds

Funding history chart
Funding round and deals details
Funding Date Round Amount Raised Price per Share Post-Money Valuation 3 Key Investors
12/05/2025 Series 2 $24.04MM $1.53 $87.82MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
15,744,883
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
12/05/2025 Series 2-A $1.02MM $1.37 $87.82MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
738,690
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
06/15/2022 Series 1-B2 $5.09MM $14.76 $477.99MM American Family Ventures, Breyer Capital, Gigafund, Jam Fund, Liquid 2, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
344,496
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.4x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
American Family Ventures, Breyer Capital, Gigafund, Jam Fund, Liquid 2, Mark Vc, Trust Ventures
06/15/2022 Series 1-B1 $55MM $13.15 $477.99MM American Family Ventures, Breyer Capital, Gigafund, Jam Fund, Liquid 2, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
4,182,328
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.4x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
American Family Ventures, Breyer Capital, Gigafund, Jam Fund, Liquid 2, Mark Vc, Trust Ventures
10/26/2021 Series 1-A4 $20MM $9.58 $288.54MM American Family Ventures, Breyer Capital, Gigafund, Harmon Brothers Ad Ventures, Jam Fund, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
2,087,242
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.4x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
American Family Ventures, Breyer Capital, Gigafund, Harmon Brothers Ad Ventures, Jam Fund, Mark Vc, Trust Ventures
09/09/2020 Series 1-A1 $18.8MM $3.54 $114.65MM Gigafund, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
5,316,738
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.2x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Gigafund, Mark Vc, Trust Ventures
09/09/2020 Series 1-A3 $2MM $2.83 $114.65MM Gigafund, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
706,963
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.2x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Gigafund, Mark Vc, Trust Ventures
09/09/2020 Series 1-A2 $3.77MM $1.22 $114.65MM Gigafund, Mark Vc, Trust Ventures
Price per Share
$ xx.xx
Shares Outstanding
3,076,549
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Gigafund, Mark Vc, Trust Ventures
09/25/2018 Series 1-Seed $3.14MM $0.81 $10.46MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
3,868,792
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors

Sana IPO news and media highlights

Business Wire 04/12/2023

Sana Announces Partnership with Prime Health Services, Expands All-Access Network to 1.7M Provider Locations

Sana, a health care company that provides Fortune 500-level health benefits to small businesses at affordable prices, today announced a partnership with Prime Health Services, a national cost management solutions company. Through this partnership, Sana and Prime Health Services will be able to expand their coverage to a larger number of individuals, increasing the number of provider locations in Sana’s network by over 40 percent.
Business Wire 03/21/2023

Sana Announces Partnership with Little Otter — Giving Children and Their Families Access to Quality Mental Health Care

Sana, a health care company that provides Fortune 500-level health benefits to small businesses at affordable prices, today announced a partnership with Little Otter, a digital mental health solution for children and their families.
Business Wire 01/11/2023

Sana Accelerates 2022 Growth, Tripling Its Number of Customers Year-Over-Year

Sana, a health care company that provides health benefits to small businesses at affordable prices, today announced significant company momentum throughout 2022. Fueled by an immensely successful $60M Series B funding round, Sana expanded into four new states, and saw more than 2.5x customer growth in their largest market, Texas.
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See which private companies are preparing for the public market. Register to get full access to the latest secondary market pricing data.

Sector: Enterprise Software
Subsector: Business Operations
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Company Forge Price Last Matched Round Post-Money Valuation 3 Price Per Share Amount Raised
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Updated on: Jan 24, 2026

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