In 2020, Transcarent was established with the goal of using technology to improve the quality and affordability of healthcare for organizations that offer health benefits to their employees. The company has now secured $126 million in Series D funding, which values the company at $2.2 billion. This funding was led by General Catalyst and 7wireVentures, where Transcarent’s founder and CEO, Glen Tullman, is a managing partner.
Transcarent plans to use the funds to enhance its artificial intelligence capabilities, expand its business, and explore potential acquisitions according to Tullman’s statements to STAT+. With this latest round of funding, Transcarent has raised approximately $450 million to date.
One of the key differentiators for Transcarent is its focus on enhancing care quality and reducing costs for organizations offering health benefits to their employees. While other health care navigation and virtual care firms also claim to improve affordability and accessibility of care, Transcarent stands out with its unique approach.
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