Thatch, an employer-focused healthcare advantages platform, introduced it has raised $38 million in a Collection A funding spherical led by Basic Catalyst and Index Ventures.
New traders SemperVirens and the Basic Partnership participated within the spherical, as did current traders Andreessen Horowitz (a16z) and Avid Ventures.
WHAT IT DOES
Thatch presents employers ICHRA profit plans that enable them to determine a month-to-month allowance that staff can put towards advantages they select.
Workers select the packages accessible of their area based mostly on their wants. Employers pay a set quantity per worker every month.
The California-based firm will use the funding to increase its workforce, speed up development and scale its know-how.
“We’re thrilled to assist the Thatch group as they proceed to reimagine the way forward for healthcare,” stated Alex Tran, chief government officer at Basic Catalyst, in a press release.
“Over the previous yr, we have seen them rent unimaginable expertise, obtain a variety of love from prospects, and ship merchandise rapidly. Thatch presents a powerful worth proposition for purchasers: staff get extra selection and high quality in healthcare; employers get larger visibility into spending. Long run, we hope Thatch strikes us one step nearer to a extra superb model of American healthcare, one pushed by basic market forces like high quality, transparency, and value.”
MARKET SNAPSHOT
Quite a few digital healthcare firms are focusing on the worker advantages market.
Personifying Well being Personify, Inc. offers well being, navigation, advantages, and wellness experiences, together with data-driven personalization. Personify was shaped by way of a $3 billion merger between cellular worker wellness and engagement firm Virgin Pulse and advantages and analytics platform HealthComp.
Different firms embrace employer-focused digital psychological well being suppliers Lyra Well being and digital healthcare and care and advantages navigation firm Accolade.
The HIMSS Healthcare Cybersecurity Discussion board is scheduled for October 31-November 1 in Washington, DC