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Digital health startup Transcarent valued at $2.2 bln after latest funding round – ET HealthWorld

London: Digital health startup TransCurrent achieved a valuation of $2.2 billion after its latest fund raise, led by general catalyst and 7wireVentures, amid signs of a rebound in funding market,

The company on Thursday said it has raised $126 million in a Series D funding round, bringing its total raised so far to nearly $450 million.

why is it important?

Expectations of soft landing US economy And interest rate cuts have encouraged investor confidence In startups.

technology-focused startup Following the boom in artificial intelligence following the launch of OpenAI’s ChatGPT in 2022, they have been able to secure a large portion of the investment.

Context

TransCurrent, which was founded in 2020, helps companies effectively manage health care benefits for their employees by cutting costs and reducing complexity. More than 4.3 million people have access to TransCurrent’s platform through their employer or health plan.

The latest funding will be used to accelerate AI capabilities and support commercial and strategic development,

key quote

“Transparent is bending health care cost curve For consumers and employers, demonstrating that you can deliver great care and a great experience while also reducing costs,” said John Roose. Geodesic CapitalWhich also participated in TransCurrent’s latest funding round.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shinjini Ganguly)

  • Published on May 3, 2024 at 04:48 PM IST

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