January 11, 2022 – Transcarent recently announced a $200 million Series C investment led by Kinnevik and Human Capital, with participation from Ally Bridge Group and leading health systems including Northwell Health, Intermountain Healthcare, and Rush University Medical Center. The funding round also included participation from existing investors, including General Catalyst, 7wireVentures, Alta Partners, Merck Global Health Innovation Fund, Jove Equity Partners, Threshold Ventures, and GreatPoint Ventures.
“At Transcarent, we’ve created a new and different health and care experience that puts consumers back in charge and is simply better aligned for employers, employees and their families, and the providers who deliver high quality care in this country,” said Glen Tullman, Chief Executive Officer of Transcarent.
Transcarent serves as the on-ramp for self-insured employers and their employees to a new kind of experience unlike anything in healthcare today. Transcarent provides personalized health and care support for virtually all of the most common and most challenging needs, including not just essentials like urgent care but also including lower cost medications, personalized behavioral health symptom evaluation and support, along with, where appropriate, specialty care like surgeries, care at home, cancer, and expert second opinions.
Members get 24/7 access to trusted digital and live guidance (real humans) and direct access to high-value care. Most members receive no bills nor are they responsible for co-pays and co-insurance. Transcarent provides a unique experience for consumers by offering a fully at-risk model which pays providers up-front for care and partners with employers without any up-front or per-employee-per-month (PEPM) fees.