Thatch Secures $40M Series B Funding Led by Index Ventures, Boosting San Francisco’s Tech Innovation
Thatch, a HealthTech company based in San Francisco, is making headlines after raising $40 million in a Series B funding round. This significant investment is aimed at enhancing employer-sponsored healthcare solutions, particularly through Individual Coverage Health Reimbursement Arrangements (ICHRA).
Series B Funding Highlights
The funding round was led by Index Ventures and saw participation from notable venture capitalists, including:
- Andreessen Horowitz
- General Catalyst
- ADP Ventures
- SemperVirens
- PeopleTech Partners
- The General Partnership
About Thatch and Its Mission
Founded in 2021, Thatch has quickly established itself as a leader in the healthcare solutions space. Since launching its platform in 2023, the company has successfully assisted over 1,000 businesses in implementing innovative healthcare solutions tailored to their workforce’s needs.
Future Plans for Growth
Thatch plans to utilize the newly acquired funds to:
- Scale its operational capabilities
- Enhance its product offerings
- Expand its market presence across the United States
This strategic initiative aligns with Thatch’s goal of transforming how employers approach health benefits, providing employees with more personalized healthcare options through ICHRA.
Leadership Changes
In conjunction with the funding announcement, Thatch has appointed Gary Daniels as its new Chief Growth Officer. Previously the CEO of UnitedHealthcare’s Pacific Northwest division, Daniels brings a wealth of industry knowledge and experience, further strengthening Thatch’s leadership team.
Conclusion
As Thatch continues to grow, its focus on delivering innovative healthcare solutions is set to reshape the employer-sponsored health benefits landscape. For more information on employer health solutions, visit Healthcare.gov.
