Transcarent Secures $126M in Series D Funding, Valuing the Company at $2.2 Billion
Transcarent, a rapidly growing healthcare technology company, has announced $126 million in Series D funding, valuing the company at $2.2 billion. The investment round was led by General Catalyst and 7wireVentures, with former Livongo CEO Glen Tullman serving as a managing partner. Tullman revealed to STAT that the funding will be used to enhance Transcarent’s artificial intelligence capabilities, expand its business, and explore potential acquisitions.
Established in 2020, Transcarent is among a group of emerging companies looking to leverage technology to improve care and reduce costs for organizations that offer health benefits to their employees. Unlike other healthcare navigation and virtual care firms that aim to make care more affordable and accessible, Transcarent stands out with its unique approach.
Transcarent has already raised approximately $450 million in funding before this latest announcement. This new investment will allow the company to continue expanding its operations and building on its innovative solutions. With this new funding round, Transcarent is set to become an even more significant player in the healthcare technology industry.
