Funding round
Transcarent Series B
Transcarent, which works in health and care platform development in Denver, raised $58M in a Series B round announced on 10 Jun 2021, led by General Catalyst and 7wire Ventures, at a $500M post-money valuation. 9 firms took part. It is Transcarent's second venture round on record; the one before was a Series A in Oct 2020.
$58M
Amount raised
$500M
Post-money valuation
9
Investors
2 leads
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Transcarent at $500M after the new money. The $58M bought investors about 12% of the company. It came 8 months after Transcarent's Series A. It is 14% of the $424M Transcarent has raised in the venture rounds on record. Transcarent raised again 7 months later: a Series C round of $200M in Jan 2022, at $1.62B post-money.
Transcarent's funding rounds
Transcarent has 4 venture rounds on record. This one is highlighted.
- Series A 22 Oct 2020, led by General Catalyst $40M
- Series B this round 10 Jun 2021, led by General Catalyst and 7wire Ventures $58M$500M post-money
- Series C 11 Jan 2022, led by Kinnevik and Human Capital $200M$1.62B post-money
- Series D 2 May 2024, led by General Catalyst and 7wire Ventures $126M$2.20B post-money
Investors
Who put money in
General Catalyst and 7wire Ventures led the round with 7 other firms.
Lead investors
- General Catalyst backs 574 venture-backed companies new investor
- backs 27 venture-backed companies new investor
Also in the round
- Merck Global Health Innovation Fund new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Leaps by Bayer new investor
- backs 58 venture-backed companies new investor
- backs 60 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- Jove Equity Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
32 Series B rounds in Health Care Services within a year either side disclosed an amount; the median was $27M, and this round was 2.1 times the median. The closest in time, other companies' Series B rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 28 Jun 2021 | $35M | not disclosed | Rethink Impact |
| Health Care Services | 13 Jul 2021 | $22M | not disclosed | NewView Capital |
| Health Care Services | 26 Apr 2021 | $46M | not disclosed | not named |
| Health Care Services | 22 Apr 2021 | $21M | not disclosed | Sator Grove |
| Health Care Services | 25 Aug 2021 | undisclosed | not disclosed | not named |
| Strive Health Health Care Services | 16 Mar 2021 | $140M | not disclosed | CapitalG |
| Health Care Services | 22 Sep 2021 | $71M | not disclosed | Health Velocity Capital |
| Health Care Services | 29 Sep 2021 | $38M | not disclosed | AmeriHealth Caritas |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Transcarent raise in its Series B round?
Transcarent raised $58M in its Series B round, announced in Jun 2021.
Who led Transcarent's Series B round?
General Catalyst and 7wire Ventures led it, with Merck Global Health Innovation Fund, Kleiner Perkins, Leaps by Bayer, GreatPoint Ventures and Threshold and 2 more.
What was Transcarent's valuation at the Series B round?
$500M post-money.
How does it compare with other Series B rounds in Health Care Services?
32 Series B rounds in Health Care Services within a year either side disclosed an amount; the median was $27M, and this round was 2.1 times the median.
Did Transcarent raise again after this round?
Yes: a Series C round in Jan 2022 of $200M at $1.62B post-money.