Transcarent, the fast-moving company helmed by health tech investor and former Livongo CEO Glen Tullman, today announced $126 million in Series D funding valuing the company at $2.2 billion.
The investment round was led by venture capital giant General Catalyst and 7wireVentures, where Tullman is a managing partner. Transcarent will use the funding to support development of artificial intelligence capabilities across the enterprise, growing its business, and pursuing acquisitions, Tullman told STAT. Transcarent has raised about $450 million to date.
Founded in 2020, Transcarent is one of a handful of upstarts hoping to use technology to improve care and lower costs for companies that provide health benefits for their workers. Tullman has said Transcarent is distinct from other health care navigation and virtual care companies that also promise to make care cheaper and more accessible.
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