Transcarent Raises $126M Series D

Transcarent, a San Francisco, CA-based healthcare platform provider, raised $126m in Series D funding.

The round was led by General Catalyst and 7wireVentures, joined by new investors Geodesic Capital and Memorial Hermann Health System, with support from previous investors Threshold Ventures, Kinnevik, Ally Bridge Group, Human Capital, Merck Global Health Innovation Fund, Alta Partners, and Leaps by Bayer.

The company intends to use the funds to accelerate AI capabilities, support commercial growth, and strategic growth opportunities.

Led by Glen Tullman, Chief Executive Officer, and Ken Frazier, Executive Chairman, Transcarent is a health and care platform that makes it easy for people to access care and employers to provide and pay for the care. The solution connects Members to comprehensive care experiences including Everyday Care (which includes Care in 60 Seconds), Pharmacy Care, Surgery Care (from the country’s leading health systems, ambulatory care providers, and Centers of Excellence), Weight Health, and end-to-end Cancer Care.

Since the Series C round in January 2022, Transcarent has launched comprehensive Weight Health, Cancer, Behavioral Health and Pharmacy Care Experiences in addition to growing their value-based Surgery Centers of Excellence program. In 2023, the company completed the acquisition and integration of the 98point6 AI-powered virtual care platform and care business, which includes the affiliated Transcarent Clinic. Additionally, Transcarent launched the National Independent Provider Ecosystem with 12 health systems to deliver a high-quality consumer experience that is more affordable for self-insured employers.