Garner Health, a digital care navigation company for employers, has secured $100 million in Series E funding, bringing the total valuation to $2.74 billion.
Index Ventures led the startup’s Series E round, which was also supported by Kleiner Perkins, Redpoint, Thrive, Sequoia, Founders Fund, and Kaiser Permanente Ventures. This comes just three months after the company announced a $118 million Series D funding round in February.
“The American health care system pays doctors to do things for you, not for you. Mr. Garner is quietly trying to fix that problem,” Index Ventures partner Jahanbi Saldana said in a statement. “By using AI to make physician quality measurable for the first time, we have created the market mechanism that healthcare has always needed. Employers, hospitals, and patients can finally see who delivers better outcomes, and the system will reward them for it. This is one of the most important applications of AI in healthcare today.”
Founded in 2019, the startup helps employers and employees identify high-quality, cost-effective healthcare providers through data and analytics, creating financial incentives for patients to see those providers.
The company uses anonymized data from a massive dataset of more than 60 billion medical records from 320 million patients to evaluate which doctors provide the best results and the lowest costs. As part of the evaluation, Garner identifies doctors who follow the latest research, avoid unnecessary procedures, and help patients get healthier faster.
Mr. Garner currently works with approximately 800 organizations and has a membership of 2.5 million people. The company says its customers are seeing a 12% annual reduction in healthcare spending.
We partner with leading providers including Mercy, Atlantic Health, Teladoc Health, and Marathon Health.
Garner says it plans to use the new funding to expand its provider quality platform, scale product innovation powered by artificial intelligence, and expand access to Garner for new members.
“Healthcare doesn’t change through incremental adjustments, but when consumers finally have the information and incentives they need to make better decisions about their care,” Garner Health CEO Nick Reber said in a statement. “Our mission at Garner is to fundamentally recalibrate the system around quality by empowering people to choose the doctors who deliver the best outcomes. When we provide consumers with the right data and align incentives around better care, our entire health care system will change for the better.”
