Thyme Care closes $95 million Series C round
The four-year-old company has raised $178 million since its founding.
Thyme Care, a leading value-based cancer care enabler, has announced the close of a $95 million Series C capital raise.
With $55 million in equity funding, Thyme Care, headquartered in Nashville, welcomed new investor Concord Health Partners with participation from all existing investors. Those included Town Hall Ventures, CVS® Health Ventures, a16z Bio+Health, AlleyCorp, Echo Health Ventures, Frist Cressey Ventures, and Foresite Capital. Banc of California will provide an additional $40M in debt financing, bringing Thyme Care’s total amount raised to date to $178 million.
Thyme Care will use the new funds to grow and scale the business by expanding into new markets; investing in its existing oncology, primary care, and health plan partnerships; and deepening its clinical value-based care model. The company is actively managing more than half-billion dollars in medical spend across its risk-based contracts and is on pace to more than triple that number within the next year. In addition, the company has more than doubled its oncology partnerships over the past six months, with active plans to expand across the United States through additional contracts with health plans, employers, and risk-bearing primary care groups.
“Our latest funding is a testament to the dedication and expertise of our incredible team, whose relentless efforts drive our mission to transform the cancer care experience forward,” said Robin Shah, Thyme Care Co-Founder and Chief Executive Officer. “We are profoundly grateful for the unwavering support and collaboration of investors, providers, and payer partners, whose commitment makes Thyme Care’s unique, provider-centered approach possible. Together, we are reshaping the landscape of oncology, ensuring better care and affordability for all.”
The company was founded in July 2020.
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