What You Should Know:
– Transcarent, a platform simplifying health and care for employers and individuals, secures $126 million in a Series D funding round led by General Catalyst and 7wireVentures.
– The latest funding brings Transcarent’s total funding to approximately $450M at a valuation of $2.2B.
A One-Stop Solution for Employer-Sponsored Healthcare
Transcarent’s industry-leading platform streamlines healthcare access for both employers and employees. It is the only platform offering a comprehensive suite of services, including:
- Medical, surgical, and pharmacy care: Transcarent connects members to a vast network of high-quality providers.
- Mental health services: Addressing a growing need, Transcarent offers convenient access to mental health professionals.
- Weight management programs: Transcarent’s Weight Health program empowers individuals on their weight loss journeys.
- End-to-end cancer care: Transcarent provides comprehensive support for members battling cancer.
- Easy access to care: Transcarent’s “Care in 60 Seconds” feature simplifies scheduling non-urgent appointments.
Milestones Since Series C Round
Since its Series C round in early 2022, Transcarent has made significant strides:
- Launched comprehensive programs for weight management, cancer care, behavioral health, and pharmacy services.
- Established an industry-leading network of Surgery Centers of Excellence.
- Successfully acquired and integrated the 98point6 virtual care platform and care business.
- Established the National Independent Provider Ecosystem, partnering with 12 leading health systems to expand access to affordable, high-quality care.
Today, over 4.3 million people have access to Transcarent through their employers or health plans. The platform empowers them to make informed healthcare decisions with a focus on quality, affordability, and convenience.
Expansion Plans
The new funding will fuel Transcarent’s mission in three key areas:
- Accelerating AI capabilities: Transcarent will leverage AI to further personalize the healthcare experience for members.
- Supporting commercial growth: This investment fuels Transcarent’s expansion efforts, bringing their innovative platform to a wider audience.
- Strategic growth opportunities: The funding empowers Transcarent to explore strategic acquisitions and partnerships.
“Everyone asked, ‘can you make it easier for our people to access high-quality, affordable care?’, and we have. Transcarent is the One Place for Health and Care,” said Glen Tullman, Transcarent Chief Executive Officer. “One platform — your mobile phone — for everything you want and need. And an experience people don’t just like but love. High-quality care and cost reductions with a relentless focus on quality. Just what the doctor ordered.”
