Thatch, which is based in San Francisco, California, was founded in the year of 2021 and has more than 200+ employees, has announced $108M Series C funding at a $1B Valuation to Shift Control to Consumer-Directed Healthcare. The company has secured funding from Index Ventures, The General Partnership, Andreessen Horowitz, General Catalyst, as well as Scale Venture Partners, Avid Ventures, Quiet Capital, SemperVirens VC, and QuantumLight. ADP Ventures, Paychex, and Eli Lilly and Company have joined as strategic investors, that are deeply embedded in payroll infrastructure and institutional health delivery as informed by the company.
Thatch is changing Shift Control to Consumer-Directed Healthcare by introducing a better model in which employees will be given a budget, and they are free to choose the insurance and company that actually fits them instead of the company selected by the employer, which selects one health plan for everyone.
As announced by its Co-Founder and CEO, Chris Ellis, on LinkedIn, the company has shown 7x ARR growth, and currently more than 5,000 corporate clients now utilize the platform to manage employee health allocations.
Company Name: Thatch
Year Founded: 2021
Headquarters Location: San Francisco, CA
Founder Names: Chris Ellis (Co-Founder & CEO) and Adam Stevenson (Co-Founder & President)
Investment Secured: $108 Million (Series C Round)
Investing Firms: The General Partnership (lead investor), Index Ventures, General Catalyst, Andreessen Horowitz, Scale Venture Partners, Avid Ventures, SemperVirens VC, Quiet Capital, and QuantumLight (with strategic backing from ADP Ventures, Paychex, and Eli Lilly and Company)
