Thyme Care raises $95 million for value-based oncology services

A The cancer care navigation startup has raised $95 million from big-name technology investors to help payers and providers spend less on cancer patients while improving their health — including by paying incentive payments to providers and keeping a portion of insurers’ savings.

Thyme Care’s Series C funding round included new investor Concord Health Partners, as well as existing investors Town Hall Ventures, Andreessen Horowitz, Foresite Capital and CVS Health Ventures, the company told STAT exclusively. This follows the $60 million Series B funding round raised nearly a year ago, bringing total funds raised to $178 million.

The size and timing of the deal suggest that investors, increasingly concerned about financial viability, see big opportunities in cancer treatment, which by some estimates costs Americans hundreds of billions of dollars annually.