Garner Health has secured US$100m in Series E funding for its digital care navigation platform for employers.
The funding values the company at US$2.74bn.
Founded in 2019, Garner helps employers and employees identify healthcare providers through data and analytics, then creates financial incentives for patients to use those providers.
Nick Reber, chief executive of Garner Health, said: “Healthcare doesn’t change through incremental tweaks, it changes when consumers finally have the information and incentives they need to make better decisions about their care.
“Our mission at Garner is to fundamentally realign the system around quality by empowering people to choose the doctors who deliver the best outcomes.
“When you give consumers the right data and align incentives around better care, the entire healthcare system will change for the better.”
The Series E round was led by Index Ventures, with Kleiner Perkins, Redpoint, Thrive, Sequoia, Founders Fund and Kaiser Permanente Ventures also backing the round.
Garner said it plans to use the new capital to expand its provider quality platform, scale artificial intelligence-powered product innovation and expand access to Garner for new members.
Jahanvi Sardana, partner at Index Ventures, said: “The American healthcare system pays doctors to do things to you, not for you. Garner is quietly fixing that.
“By using AI to make physician quality measurable for the first time, they’ve built the market mechanism healthcare always needed, one where employers, hospitals, and patients can finally see who delivers better outcomes, and the system rewards them for it. It’s one of the most important applications of AI in healthcare today.”
The latest funding comes three months after Garner announced a US$118m Series D round in February.
