Glen Tullman, CEO of digital healthcare startup Transcarent, wasn’t looking to raise more capital, Forbes reports. The former Livongo CEO was busy enough preparing the company, which came out of stealth just months before, for new growth opportunities. But some offers came and the board said why not sample the market?
“We sampled the market, and we had four other term sheets in less than a week,” says Tullman. “There was just tremendous demand and interest in what we’re doing.”
As a result, the company announced today that it has raised a $200 million series C round. The round gives Transcarent a valuation of $1.6 billion, according to sources familiar with the deal, making this another digital health unicorn where Tullman, 62, has served as CEO. Read more.
