Transcarent, a health tech company led by investor Glen Tullman, has secured $126 million in Series D funding, valuing the company at $2.2 billion. The round of funding was spearheaded by General Catalyst and 7wireVentures, where Tullman is a managing partner. With this latest funding, Transcarent has raised approximately $450 million to date.
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. Transcarent was established in 2020 and aims 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.
Transcarent’s unique approach includes providing personalized support for employees navigating their health benefits and connecting them with high-quality providers. The company’s AI-powered platform can analyze patient data to identify potential health risks and provide personalized recommendations for preventive care. Additionally, Transcarent offers telemedicine services that allow employees to consult with healthcare professionals remotely.
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