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Healthcare workflow platform Turquoise Health has secured $40 million in Series C funding, bringing its total raise to around $100 million.
Oak HC/FT led the round, with participation from existing investors Andreessen Horowitz, Adams Street Partners and Yosemite.
WHAT IT DOES
Turquoise offers a platform for healthcare contracts and payments. It works with providers, payers, employers and life sciences companies, providing analysis of reimbursement, provider comparisons and network performance.
The company said it is focusing on building a platform where "pricing is clear, contracts are computable and payments are predictable."
"This fundraise serves as a force multiplier for the Turquoise team to build a world of transparent prices and processes. As we shift our focus to the healthcare transaction, we're still the same company maniacally focused on eliminating the financial complexity of healthcare, and price transparency data is foundational to that mission," the company said in a statement.
MARKET SNAPSHOT
In 2024, Turquoise Health announced a $30 million Series B investment led by Adams Street Partners, with participation from Yosemite and existing investors Andreessen Horowitz and BoxGroup.
The company secured $20 million in Series A funding in 2022 in a round led by Andreessen Horowitz, with participation from Bessemer, Box Group and Tiger Global.
In 2021, Turquoise secured $5 million in seed funding, with participation from Andreessen Horowitz, Box Group, Bessemer Venture Partners and individual investors, including ex-Athenahealth founder and current Zus Health founder Jonathan Bush and Dallas Mavericks guard Klay Thompson.
