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What you should know:
– Transparenta platform simplifying health and care for employers and individuals, secures $126 million in Series D funding round led by General catalyst And 7wire Ventures.
– The latest funding brings Transcarent’s total funding to approximately $450 million at a valuation of $2.2 billion.
A One-Stop Solution for Employer-Sponsored Healthcare
Transcarent's industry-leading platform streamlines access to healthcare for employers and employees. It is the only platform offering a full suite of services, including:
- Medical, surgical and pharmaceutical care: Transcarent connects members to an extensive network of high-quality providers.
- Mental health services: Responding to a growing need, Transcarent provides convenient access to mental health professionals.
- Weight management programs: Transcarent's Weight Health program helps individuals on their weight loss journey.
- End-to-end cancer care: Transcarent offers comprehensive support to members battling cancer.
- Easy access to care: Transcarent's 60-Second Care feature makes scheduling non-urgent appointments simple.
Milestones since the Series C round
Since its Series C funding round in early 2022, Transcarent has made significant progress:
- Launched comprehensive programs for weight management, cancer care, behavioral health and pharmacy services.
- Creation of a network of centers of excellence in cutting-edge surgery.
- Acquisition and successful integration of the 98point6 virtual care platform and the care activity.
- Creating the National Ecosystem of Independent Providers, partnering with 12 leading health systems to expand access to high-quality, affordable care.
Today, more than 4.3 million people have access to Transcarent through their employer or health plan. The platform empowers them to make informed healthcare decisions with a focus on quality, affordability and convenience.
Expansion plans
The new funding will fuel Transcarent’s mission in three key areas:
- Acceleration of AI capabilities: Transcarent will leverage AI to further personalize its members’ healthcare experience.
- Supporting commercial growth: This investment fuels Transcarent’s expansion efforts, bringing its innovative platform to a wider audience.
- Strategic Growth Opportunities: The financing allows Transcarent to explore strategic acquisitions and partnerships.
“Everyone asked: 'Can you make it easier for our populations to access quality, affordable care?' ”, and we did it. Transcarent is the one-stop shop for health and care,” said Glen Tullman, President and CEO of Transcarent. “One platform – your mobile phone – for everything you want and need. And an experience that people not only love, but love. High quality care and cost reductions with a constant focus on quality. Just what the doctor ordered.”