Thyme Care Raises $97 Mn in Series D, Achieves Profitability

Thyme Care’s latest raise follows $95 million in Series C financing last year, which included $55 million in equity and $40 million in debt.

Thyme Care, a value-based cancer care platform, has secured $97 million in Series D funding and announced that it has achieved profitability during a year of expansion that included new Medicare, employer, and commercial contracts.

The round brings the company’s total funding to $275 million and values it at more than $1 billion. Existing investors CVS Health Ventures, a16z Bio + Health, Concord Health Partners, Foresite Capital, Town Hall Ventures, Frist Cressey Ventures, and AlleyCorp participated. New strategic investors included JPMorganChase’s Morgan Health, Humana, Memorial Hermann Health System, and Texas Oncology.

Founded in 2020, Thyme Care provides an oncology-focused platform that delivers 24/7 virtual care navigation. Its offerings include Thyme Box, a care management platform with navigation and analytics; Thyme Care Connect, which enables individuals to track symptoms, connect with support, and access educational content; and Thyme Care Signal, which facilitates oncology analytics and communication with providers.

"Our Series D is a strong validation of the outcomes we've delivered and the discipline we've operated. We've demonstrated that our model improves clinical outcomes while reducing total cost of care – creating meaningful value for patients, providers and payers," said Jesse Waldron, Chief Financial Officer at Thyme Care.

"We're directing this capital toward three strategic areas: expanding solutions for critical challenges like drug affordability, accelerating investments in technology and AI to enhance care delivery, and scaling our partnerships across the ecosystem to reach more people with more support. Ultimately, we're focused on building a durable, high-impact business that redefines value-based cancer care at a national scale," Waldron added.

Thyme Care’s latest raise follows $95 million in Series C financing last year, which included $55 million in equity and $40 million in debt. In 2023, the company closed $60 million in Series B funding, co-led by Foresite Capital and Town Hall Ventures.

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