Total amount raised
$61.3 Million
Latest funding date
12/1/2021
Location
Garner Health has successfully raised funds through three distinct funding rounds, with the most recent being a Series B round involving investors such as Redpoint Ventures. The platform leverages a vast database of over 60 billion medical records to evaluate healthcare providers, ensuring better patient outcomes and cost savings.
Keep reading to explore the intricacies of Garner Health's fundraising journey and the investors backing this innovative platform.
What Is Garner Health?
Garner Health, based in New York, is a technology-driven platform that leverages extensive healthcare data to provide insights and analytics for better healthcare decision-making. The company operates in multiple industries, including Big Data, Business Intelligence, Employee Benefits, Health Care, and Medical.
Founded as a private entity, Garner Health has grown to employ between 101 and 250 people. The platform offers solutions for individuals, families, employers, advisors, and healthcare providers, helping them find the best healthcare providers, reduce medical costs, and improve value-based care.
How Much Funding Has Garner Health Raised?
- Seed Round
- Amount Raised: USD 3,799,999
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and validate the business model.
- Series A
- Amount Raised: USD 12,500,000
- Date: February 2021
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and grow the customer base.
- Series B
- Amount Raised: USD 45,000,000
- Date: December 2021
- Lead Investors: Redpoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the client base, enhance data science capabilities, and roll out new services.
Total Amount Raised: USD 61,299,999. Current Valuation: Not publicly disclosed.
Key Investors
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. They have a strong track record of backing successful technology startups.
- Investment Focus Areas: Technology, consumer internet, enterprise software, healthcare.
- Notable Investments: Stripe, Netflix, Twilio, Snowflake.
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital firm known for investing in companies building revolutionary technologies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Aerospace, artificial intelligence, advanced computing, energy, health, consumer internet.
- Notable Investments: SpaceX, Palantir Technologies, Facebook, Airbnb.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that focuses on internet and software investments. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Internet, software, consumer, enterprise.
- Notable Investments: Instagram, GitHub, Slack, Robinhood.
- Optum Ventures
- Details: Optum Ventures is the venture capital arm of Optum, focusing on health services and technology investments. They aim to improve healthcare delivery and patient outcomes.
- Investment Focus Areas: Health services, technology, data analytics, digital health.
- Notable Investments: Buoy Health, Mindstrong Health, RubiconMD, DispatchHealth.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that partners with founders to build enduring companies. They have a long history of successful investments in various sectors.
- Investment Focus Areas: Technology, consumer, enterprise, healthcare.
- Notable Investments: Apple, Google, Oracle, WhatsApp.
What's Next for Garner Health?
Garner Health stands at the cusp of significant growth opportunities. With a proven ability to save employers substantial healthcare costs, the company is poised to expand its client base, particularly among small to mid-size companies. The potential to enter the direct-to-provider space with its referral product further amplifies its market reach.
Future fundraising efforts are likely as Garner Health continues to scale. The company's success in improving health outcomes and reducing costs makes it an attractive candidate for additional investment. However, challenges such as maintaining data accuracy and convincing employers to adopt its innovative solutions remain.
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