Funding round
Transcarent Series D
Transcarent, which works in health and care platform development in Denver, raised $126M in a Series D round announced on 2 May 2024, led by General Catalyst and 7wire Ventures, at a $2.20B post-money valuation. 11 firms took part, 9 of them already investors. It is Transcarent's fourth venture round on record; the one before was a Series C in Jan 2022.
$126M
Amount raised
$2.20B
Post-money valuation
11
Investors
2 leads
1.4x
Step-up from the Series C
$1.62B in Jan 2022
5.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Transcarent at $2.20B after the new money, 1.4 times the $1.62B of its Series C (Jan 2022). The $126M bought investors about 5.7% of the company. It came 28 months after Transcarent's Series C. It is 30% of the $424M Transcarent has raised in the venture rounds on record. No later venture round is on record for Transcarent.
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 11 Jan 2022, led by Kinnevik and Human Capital $200M$1.62B post-money
- Series D this round 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 9 other firms. General Catalyst, 7wire Ventures, Threshold and Kinnevik and 5 more had backed Transcarent before.
Lead investors
- General Catalyst backs 574 venture-backed companies existing investor
- backs 27 venture-backed companies existing investor
Also in the round
- Geodesic Capital backs 45 venture-backed companies new investor
- Memorial Hermann Health System new investor
- backs 60 venture-backed companies existing investor
- Kinnevik backs 55 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
- backs 55 venture-backed companies existing investor
- Merck Global Health Innovation Fund existing investor
- backs 18 venture-backed companies existing investor
- Leaps by Bayer existing 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
The closest in time: 1 in Health Care Services, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 22 Sep 2024 | $75M | not disclosed | not named |
| Tech Companies | 16 May 2024 | $200M | $1.50B | Spark Capital and Avenir |
| AlayaCare Tech Companies | 22 May 2024 | $165M | not disclosed | Generation Investment Management LLP |
| Cleaning Equipment & Supplies | 14 May 2024 | $50M | not disclosed | not named |
| Tech Companies | 21 May 2024 | $31M | not disclosed | M&G |
| Aerospace and Defence | 2 May 2024 | $25M | not disclosed | Breakthrough Victoria |
| Formation Bio Pharmaceutical Products | 26 Jun 2024 | $372M | not disclosed | Andreessen Horowitz |
| Island Tech Companies | 30 Apr 2024 | $175M | $3.00B | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Transcarent raise in its Series D round?
Transcarent raised $126M in its Series D round, announced in May 2024.
Who led Transcarent's Series D round?
General Catalyst and 7wire Ventures led it, with Geodesic Capital, Memorial Hermann Health System, Threshold, Kinnevik and Ally Bridge Group and 4 more.
What was Transcarent's valuation at the Series D round?
$2.20B post-money.