Transcarent, a rapidly growing health tech company led by former Livongo CEO Glen Tullman, has raised $126 million in Series D funding, valuing the company at $2.2 billion. The investment round was led by venture capital giants General Catalyst and 7wireVentures, where Tullman serves as a managing partner. The funds will be used to enhance Transcarent’s artificial intelligence capabilities, expand its business, and explore potential acquisitions, as revealed by Tullman to STAT. To date, Transcarent has raised approximately $450 million in funding.
Founded in 2020, Transcarent is among a group of emerging companies that aim to use technology to improve care and reduce costs for organizations that offer health benefits to their employees. Tullman emphasizes that Transcarent stands out from other healthcare navigation and virtual care firms that also strive to make care more affordable and accessible.
As an exclusive article for STAT+ subscribers, readers can gain access to additional insights on the technologies transforming healthcare by subscribing to STAT+. Subscribers can enjoy unlimited access to award-winning journalism and exclusive events.
