Transcarent, led by health tech investor Glen Tullman, has secured $126 million in Series D funding, which values the company at $2.2 billion. This round of funding was spearheaded by General Catalyst and 7wireVentures, where Tullman is a managing partner. The company plans to utilize 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 funding, Transcarent has raised approximately $450 million to date.
Established in 2020, Transcarent is among a small group of emerging companies aiming to leverage technology to enhance care quality and reduce costs for organizations offering health benefits to their employees. Tullman has emphasized that Transcarent stands out from other health care navigation and virtual care firms that also claim to enhance affordability and accessibility of care.
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