Editor’s Note: This roundup is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Health tech companies made several major funding announcements in May. Here is a list of some of the biggest funding rounds.
Forus raises $160 million in funding
Forus, previously known as Tandem, is an AI-powered company that “connects doctors, pharmacies, payers, and biopharma to bring new science to patients,” according to the website. Its platform automates insurance authorization, financial assistance and fulfillment routing. It’s used by providers in all 50 states.
Its funding was supported by Thrive Capital, General Catalyst, Accel, Bain Capital Ventures, Redpoint, BoxGroup and Pear VC, the announcement stated.
Garner Health secures $100 million in Series E funding
Garner Health serves employers and has a dataset of over 60 billion medical records that helps identify the best quality doctors. When members choose high-performing providers through Garner’s dataset, their employer then covers most or all of their out-of-pocket costs. This incentivizes employees to choose better doctors and lowers costs for employers by avoiding unnecessary procedures.
The Series E round was led by Index Ventures with participation from Kleiner Perkins, Redpoint, Thrive, Sequoia, Founders Fund and Kaiser Permanente Ventures. In total, Garner Health has raised about $300 million and has reached a valuation of $2.74 billion.
Nourish raises $100 million in Series C funding
New York City-based Nourish has more than 10,000 registered dietitians on its platform. It connects patients with a chronic condition with a dietitian, who they meet with virtually. They receive a care plan that may include lab testing, GLP-1 prescribing and medication management. Patients also have an AI health agent that helps coordinate care and supports behavior change.
The Series C round was led by Menlo Ventures, with participation from Thrive Capital, Index Ventures, J.P. Morgan Growth Equity Partners, Maverick Ventures, Y Combinator, BoxGroup, Atomico, Daybreak and Operator Partners. In total, Nourish has raised $215 million.
Commure rakes in $70 million in funding
Commure serves health systems by integrating ambient workflows, agentic AI and revenue cycle automation on one platform. It works with more than 500 healthcare organizations across more than 3,000 sites of care.
Its $70 million in funding was led by General Catalyst, with participation from Sequoia Capital, Morgan Stanley and Kirkland & Ellis. The financing will help scale Commure’s revenue cycle and practice management platform, as well as expand its AI infrastructure into global markets, according to the announcement.
Photo: Afry Harvy, Getty Images
