Transcarent, a rapidly growing company led by health tech investor and former Livongo CEO Glen Tullman, has announced $126 million in Series D funding, which values the company at $2.2 billion. The investment round was spearheaded by venture capital behemoth General Catalyst and 7wireVentures, where Tullman serves as a managing partner. The funding will be utilized by Transcarent to enhance its artificial intelligence capabilities, expand its business, and explore potential acquisitions, Tullman revealed to STAT. To date, Transcarent has raised approximately $450 million in funding.
Established in 2020, Transcarent is among a handful of emerging companies looking to leverage technology to enhance care and reduce costs for organizations that offer health benefits to their employees. What sets Transcarent apart from other healthcare navigation and virtual care firms that also aim to make care more affordable and accessible is its focus on personalized care. Transcarent uses AI-powered chatbots to help employees navigate their health plans and connect with providers who can best meet their needs.
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