Transcarent, a health and care platform, has announced a successful Series D investment round, raising $126 million. The funding round was led by General Catalyst and 7Wire Ventures, with participation from new investors Geodesic Capital and Memorial Hermann Health System. Previous investors, including Threshold Ventures, Kinnevik, Ally Bridge Group, Human Capital, Merck Global Health Innovation Fund, Alta Partners, and Leaps by Bayer, also contributed.

This latest investment brings Transcarent’s total funding to approximately $450 million, valuing the company at $2.2 billion. The funds will be used to accelerate AI capabilities, support commercial growth, and explore strategic growth opportunities.

Transcarent’s platform offers a comprehensive care experience, integrating medical, surgery, pharmacy, and mental health care into one place. It connects members to various care experiences, including everyday care, pharmacy care, surgery care, weight health, and end-to-end cancer care.

Transcarent CEO Glen Tullman expressed his excitement about the development, stating that Transcarent is the “One Place for Health and Care” and that the platform offers an experience people love. Ken Frazier, Executive Chairman at Transcarent, also highlighted the importance of this progress in improving the current system for employers and employees who demand a better, more affordable health and care experience.