Funding round
Transcarent Series C
Transcarent, which works in health and care platform development in Denver, raised $200M in a Series C round announced on 11 Jan 2022, led by Kinnevik and Human Capital, at a $1.62B post-money valuation. 13 firms took part. It is Transcarent's third venture round on record; the one before was a Series B in Jun 2021.
$200M
Amount raised
$1.62B
Post-money valuation
13
Investors
2 leads
3.2x
Step-up from the Series B
$500M in Jun 2021
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Transcarent at $1.62B after the new money, 3.2 times the $500M of its Series B (Jun 2021). The $200M bought investors about 12% of the company. It came 7 months after Transcarent's Series B. It is 47% of the $424M Transcarent has raised in the venture rounds on record. Transcarent raised again 28 months later: a Series D round of $126M in May 2024, at $2.20B 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 10 Jun 2021, led by General Catalyst and 7wire Ventures $58M$500M post-money
- Series C this round 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
Kinnevik and Human Capital led the round with 11 other firms.
Lead investors
- Kinnevik backs 55 venture-backed companies new investor
- backs 55 venture-backed companies new investor
Also in the round
- backs 37 venture-backed companies new investor
- Northwell Health new investor
- Intermountain Healthcare new investor
- Rush University Medical Center new investor
- General Catalyst backs 574 venture-backed companies new investor
- backs 27 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- Merck Global Health Innovation Fund new investor
- Jove Equity Partners new investor
- backs 60 venture-backed companies new investor
- backs 58 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
12 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $60M, and this round was 3.3 times the median. The closest in time, other companies' Series C rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 22 Feb 2022 | $125M | not disclosed | Quadria Capital and Lightrock |
| Health Care Services | 29 Sep 2021 | $48M | not disclosed | Moore Strategic Ventures and BEENEXT |
| Health Care Services | 31 Aug 2021 | $65M | not disclosed | Asia Partners |
| Health Care Services | 30 Aug 2021 | $60M | not disclosed | Casdin Capital |
| Sword Health Health Care Services | 6 Jul 2021 | $85M | $500M | General Catalyst |
| Health Care Services | 1 Jul 2022 | $38M | not disclosed | Goldman Sachs |
| Health Care Services | 5 Jun 2021 | $140M | $1.00B | HealthQuest Capital |
| Health Care Services | 30 Mar 2021 | $100M | $1.10B | Khosla Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Transcarent raise in its Series C round?
Transcarent raised $200M in its Series C round, announced in Jan 2022.
Who led Transcarent's Series C round?
Kinnevik and Human Capital led it, with Ally Bridge Group, Northwell Health, Intermountain Healthcare, Rush University Medical Center and General Catalyst and 6 more.
What was Transcarent's valuation at the Series C round?
$1.62B post-money.
How does it compare with other Series C rounds in Health Care Services?
12 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $60M, and this round was 3.3 times the median.
Did Transcarent raise again after this round?
Yes: a Series D round in May 2024 of $126M at $2.20B post-money.