Thatch Raises $108M at $1B Valuation as Employers Shift From Group Health Plans

M&A · PartnershipIndustry
โดย PR Newswire·US·Read original
Summary · why it matters

Thatch, the health benefits platform helping employers move from traditional group health plans to a consumer-directed model, has raised $108 million in new funding at a $1 billion valuation. The round was led by The General Partnership, Index Ventures, General Catalyst, and Andreessen Horowitz, with participation from ADP Ventures, Paychex, Eli Lilly and Company, Scale Venture Partners, QuantumLight, SemperVirens, Quiet Capital, and Avid Ventures. The company said its revenue has grown nearly seven-fold over the past year, with more than 5,000 employers now using the platform. Under Thatch's model, employers set a defined health benefits budget and employees use those tax-free dollars to choose an individual health plan, and can spend remaining funds on eligible healthcare expenses such as GLP1s and therapy. Chief executive and co-founder Chris Ellis said giving people control over their own healthcare dollars changes their behavior, and Index Ventures partner Jahanvi Sardana said Thatch is rebuilding healthcare around the individual the way Amazon did for retail and Expedia for travel. Thatch's distribution network includes partnerships with ADP, Paychex, Gusto and QuickBooks.

Impact on stocks 5

Cloud & Digital Infrastructure▲ · 3 stocks
Industrials▲ · 1 stocks
Biotech & Genomic Medicine▲ · 1 stocks

Off-coverage companies 12

ThatchPrivate▲ Positive
Capitalrelevance

Thatch raised $108M at a $1B valuation led by major investors, with revenue up nearly seven-fold and 5,000+ employers on the platform.

ADP VenturesPrivate± Mixed
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Andreessen HorowitzPrivate± Mixed
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Avid VenturesPrivate± Mixed
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General CatalystPrivate± Mixed
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Gusto, Inc.Private± Mixed
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Index VenturesPrivate± Mixed
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QuantumLight CapitalPrivate± Mixed
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Quiet CapitalPrivate± Mixed
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Scale Venture PartnersPrivate± Mixed
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SemperVirensPrivate± Mixed
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The General PartnershipPrivate± Mixed
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