Glen Tullman does it again

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health tech giants Glen Tullman keeps producing unicorns. Transcurrent, a consumer-directed health care navigation company launched and led by Tullman, raised $200 million In a Series C round.

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Why this matters: The funding brings Transcurrent’s total capital to $298 million in just one year, with a valuation of $1.62 billion, Forbes report,

  • Transcarent has now exceeded the pre-IPO funding levels of its first effort, Livongo – which $18.5 billion union Last year saw the largest digital health merger in history with Teladoc.
  • Kinewick and Human Capital led the round, which was joined by Eli Bridge Group, General Catalyst, 7WireVentures and existing investors.

That tops the $237 million Livongo raised before its 2019 public debut, before it collected $355 million in its $2.55 billion IPO.

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Our Thought Bubble: That’s a lot of $$ for Tullman. again.

  • Since 2013, Tullman has earned $890 million through two ventures alone. This time the fundraising pace is much faster.
  • The former longtime CEO of Allscripts and founder of 7wireVentures has already made Kinnevik and General Catalyst – a lot of money for investors in Livongo.
  • So, with more dry powder available and Tullman’s reputation and track record getting bigger, it’s no surprise that past (and new) investors quickly rushed to work with him again.

Bottom-line: Put this unicorn on your 2022 watchlist.

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Sarah and Erin will co-author an upcoming Nerdshala Pro newsletter on health tech deals. subscribe AxiosPro.com.

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