Thyme Care was recently featured in Becker’s Health IT for closing a $97M Series D funding round. The article highlights how the company secured backing from new strategic investors like Memorial Hermann Health System and Morgan Health, in addition to participation from existing partners such as CVS Health Ventures and Humana. Preview below:
Nashville-based Thyme Care raised $97 million in a Series D funding round, bringing its total capital raised to $275 million.
The round included participation from existing investors CVS Health Ventures, Foresite Capital, a16z Bio + Health, Concord Health Partners, Town Hall Ventures, AlleyCorp and Frist Cressey Ventures. New strategic investors included Morgan Health, Humana, Texas Oncology and Memorial Hermann Health System.
Thyme Care said it now manages more than $5 billion in oncology spend and extends access to 8 million people through its value-based cancer care model. The company works with more than 1,000 oncologists across the country to support care coordination and reduce friction for patients and providers.
As part of its care model, Thyme Care uses electronic patient-reported outcome surveys to identify needs earlier and avoid complications. Members who completed these surveys were 40% less likely to visit the emergency room and had 19% fewer hospital admissions. The company also reported helping one partner practice save nearly 2,000 hours of staff time in one year.
Roughly 90% of members said they feel more supported through Thyme Care, and 72% shared updates through the surveys — nearly double the industry average.