Check out today’s featured companies who have recently raised a round of funding, and be sure to check out the full list of past healthcare IT fundings.
Turquoise Health Announces $40 Million Series C to Become the Operating System for Healthcare Contracts and Payments
Turquoise Health (Turquoise), a multi-sided healthcare pricing and payment platform, today announced it has raised $40 million in Series C funding. The round was led by Oak HC/FT, with participation from existing investors including Andreessen Horowitz, Adams Street Partners, and Yosemite.
Healthcare’s financial infrastructure is broken in a way that costs the industry nearly $1 trillion in administrative spend annually. The core problem is structural, with the contracts underlying every payment decision stored in disparate systems, inconsistently interpreted, and effectively invisible to the parties bound by them. The result is a world where it’s difficult for anyone to translate those rates into accurate payment amounts. The current system results in both sides losing money due to denials and administrative overhead, or needing to maintain teams of analysts to manage complex reimbursement scenarios and reviews of documentation. This also leads to the poor experience that most patients have with medical bills and the financial infrastructure supporting care. By centralizing data, contract information, and clinical coverage rules, Turquoise addresses the industry’s pricing opacity and revenue leakage, transforming the cost of care from a source of conflict and confusion into a clear, actionable source of truth.
Turquoise’s platform creates a new way to price, contract, and transact in healthcare. Clear Rates synthesizes machine-readable files, claims data, Medicare benchmarks, and all other relevant pricing signals into a single, auditable rate for every payer-provider combination. Contracts leverages AI to tag every rate and provision across a customer’s contract portfolio, turning static documents into a dynamic operating system so teams can find contract details, compare performance, and model negotiation scenarios in a few clicks. Together, they lay the foundation for a fundamentally different healthcare transaction, one where standardized pricing and aligned contracts dissolve administrative waste and improve the patient experience by making same-day, transparent transactions the norm. Woven across the platform is AskTQ, the AI-powered pricing and contracting layer that cuts weeks of manual research down to seconds.
“Our goal has always been to move the industry toward clear, accurate, and actionable healthcare pricing,” said Chris Severn, Co-Founder and CEO at Turquoise…
Full release here, originally announced March 17th, 2026.
Lantern Secures $30M Strategic Investment from Morgan Health and Echo Health Ventures to Help Employers Reduce Costs and Improve Outcomes for Specialty Care
Investment will Further Scale the Nation’s Leading Specialty Care Platform for Surgery, Infusions, and Cancer Care
Lantern, the leading Specialty Care Platform serving 12 million people across the U.S., today announced a $30 million investment led by Morgan Health – a division of JPMorganChase dedicated to improving employer-sponsored healthcare – and Echo Health Ventures, a strategic investment platform investing on behalf of multiple Blues health plans. The growth investment will support Lantern’s expansion across public and private employers and health plans, building on its strong, proven track record of lowering the cost of specialty care in the United States while improving outcomes and experiences.
“Specialty care is a primary driver of health care costs and contributes to the double-digit price escalation that most employers are experiencing. On top of that, consumers are increasingly frustrated with the lack of tools to navigate their conditions and are looking to their employers to ease this burden,” said Dan Mendelson, CEO at Morgan Health. “Lantern’s ability to improve outcomes and lower costs supports a healthier, more engaged workforce – and we’re committed to accelerating their impact.”
A New Approach to Specialty Care
At the center of Lantern’s approach is its breakthrough “Network of Excellence” model. Rather than relying solely on traditional centers of excellence – which concentrate care within a limited number of facilities – Lantern negotiates directly with high-quality providers to create the most accessible, high-performing network in the country. Lantern’s model works across the three largest cost centers in specialty care: surgery, cancer, and infusions, where site of care shifts combined with high-quality specialists demonstrate savings up to $20 per employee per month (PEPM) across Lantern’s customers. Today, Lantern’s clients include more than 1,000 of the largest public and private employers and unions in the U.S. Lantern’s platform is designed to:
- Lower Total Medical Spend: Lantern negotiates rates for surgery and other services that are up to 55% lower than average commercial reimbursement; this translates to 4% savings on overall healthcare costs (based on customer data) and more than $1 billion in cumulative savings across employers
- Improve Surgical Outcomes: Lantern’s Network of Excellence is curated through in-depth, clinically nuanced review, including 300+ appropriateness and outcome measures, to deliver significantly lower complication rates compared to national benchmarks, exceptional patient-reported functional improvements, and industry-leading, specialist-driven surgical avoidance rates
- Reduce Downstream Costs: Fewer complications mean fewer follow-up procedures, hospitalizations, and avoidable long-term conditions, resulting in long-term cost containment
- Deliver a Better Experience for Members: Lantern boasts an 85 NPS score; members benefit from a “white-glove” concierge service, including dedicated care advocates and nurse navigators
“We are restoring basic market dynamics in specialty care to bend the healthcare cost curve,” said John Zutter, CEO at Lantern…
Full release here, originally announced March 19th, 2026.
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