San Francisco-based digital health startup Transcarent has secured $126 million in a series D funding round to speed up AI-powered advancements on its platform.
As the company announced on Tuesday, May 2, 2024, the funding round was led by General Catalyst and 7wireVentures, and backed by new investors Memorial Hermann Health System and Geodesic Capital.
Seven of Transparent’s previous investors, Threshold Ventures, Ally Bridge Group, Kinnevik, Human Capital, Alta Partners, Leaps by Bayer, and Merck Global Health Innovation Fund also contributed to the funding round.
The Series D funding round has boosted Trascarent’s total funding to about $450 million, with the company’s valuation notching $2.2 billion. Transcarent will use the additional capital to accelerate AI technology capabilities. The funds will also be used to support strategic and commercial growth opportunities.
Transparent’s well-performed Series D funding round underscores investor confidence in the company’s vision and commitment to cost-effective health and care through its platform. Since January 2022, the company has launched comprehensive cancer, Weight Health, Pharmacy care experiences, behavioral health, and Pharmacy Care Experiences.
All-in-one Health and Care Platform
The platform makes accessing healthcare easy by connecting members to comprehensive healthcare services, including Everyday Care, Surgery Care, Weight Health, Pharmacy Care, and end-to-end Cancer Care on one platform.
