California-based healthcare company, Transcarent, raised $200 million in their Series C fund round by Kinnevik and Human Capital. Other participants were Ally Bridge Group, Northwell Health, Intermountain Healthcare, and Rush University Medical Center. Existing investors too participated in the round, namely, General Catalyst, 7wireVentures, Alta Partners, Merck Global Health Innovation Fund, Jove Equity Partners, Threshold Ventures, and GreatPoint Ventures. 

Currently, the company is under the leadership of Glen Tullman. The series C round of funding gives Transcarent a valuation of $1.6 billion, making it another digital health venture to enter the unicorn club.

Transcarent was made for employees of self-insured employers and their families. The platform provides an ecosystem that helps fulfil all medical needs of the patient. This ranges from health evaluation to speciality care like surgery and home care. Patients can get access to live and direct guidance to healthcare professionals around the clock. 

Transcarent offers what no other company offers - a fully at-risk model which pays providers up-front for care and partners with employers without any up-front or per-employee-per-month (PEPM) fees. This model makes it possible for members to receive no bill. In October 2020, the company had received $40 million in their Series A round led by 7wireVentures and General Catalyst. The same year, Transcarent acquired BridgeHealth. Last year they had raised $58 million in their Series B round.