Transcarent, a rapidly growing health tech company led by former Livongo CEO and health tech investor Glen Tullman, has announced $126 million in Series D funding. This investment round was spearheaded by venture capital behemoths General Catalyst and 7wireVentures, where Tullman serves as a managing partner. The funding will be used to enhance Transcarent’s artificial intelligence capabilities, expand its business and explore potential acquisitions.
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. Tullman emphasizes that Transcarent sets itself apart from other healthcare navigation and virtual care firms that also aim to make care more affordable and accessible.
As part of the funding announcement, Tullman revealed that the company has raised approximately $450 million in total funding to date. This includes $135 million in Series A funding raised in 2020, $89 million in Series B funding raised in 2021, and the recent $126 million Series D round. With this new funding, Transcarent is poised to continue its growth trajectory and further establish itself as a leader in the healthcare technology space.