TLDR:
Transcarent, a healthcare platform provider based in San Francisco, raised $126 million in Series D funding led by General Catalyst and 7wireVentures. The company plans to use the funds to accelerate AI capabilities, support commercial growth, and strategic growth opportunities.
Article Summary:
Transcarent, led by Glen Tullman and Ken Frazier, provides a health and care platform that connects members to comprehensive care experiences, including Everyday Care, Pharmacy Care, Surgery Care, Weight Health, and Cancer Care. Since their Series C funding round in January 2022, the company has launched additional care experiences and expanded their Surgery Centers of Excellence program.
In 2023, Transcarent acquired the 98point6 AI-powered virtual care platform and care business, as well as launched the National Independent Provider Ecosystem with 12 health systems to deliver high-quality, affordable care for self-insured employers. The Series D funding round was joined by new investors Geodesic Capital and Memorial Hermann Health System, along with support from previous investors.
The company’s goal with the funding is to enhance their AI capabilities, support commercial growth, and pursue strategic growth opportunities in the healthcare space. Overall, Transcarent’s focus is on making it easier for people to access care and for employers to provide and pay for care efficiently.
