Founder: Glen Tullman (CEO)
Launched: 2020
Headquarters: Denver, Colorado
Funding: $957 million
Valuation: $3 billion
Key Technologies: Artificial intelligence, generative AI
Industry: Healthcare
Previous appearances on Disruptor 50 list: 2 (No. 14 in 2025)
Transcarent's platform for corporate clients guides employees through the administratively challenged U.S. healthcare system with information, such as details about their benefits, and guidance about which medical professionals to consult. As with most industries, it is also becoming a more AI-centric navigation system for users.
This year, Transcarent adopted agentic AI, including voice AI to book appointments and offer "symptom checking," in which agentic AI engages patients in conversation to determine whether their symptoms warrant an immediate medical visit. Transcarent also struck a partnership with pharmacy benefits manager SmithRx that allows patients to compare drug prices from different retailers. Some 43% of patients find a lower-cost pharmacy, according to Transcarent.
Following its 2025 acquisition of Accolade, another medical navigation company, Transcarent said it served over 20 million patients.
Though it has a patient-facing approach, Transcarent has so far steered clear of some controversial AI usage areas. More than 80% of physicians reported using AI to summarize research and fill out paperwork, the type of AI-based work fellow Disruptor company Abridge handles, but a majority strongly oppose patients using AI to replace medical judgement, such as by interpreting radiology or pathology results.
Transcarent says its ideal client is a self-insured employer with 2,500 employees. In its niche, Transcarent faces competition from health insurance companies' offerings for large employers, private equity-owned Quantum Health, and other pure-plays that have been in the space for a decade or more, including Teladoc, Included Health (the company formed from the merger of Grand Rounds and Doctors on Demand), and Castlight.
Founder Glen Tullman, a long-time health executive and venture capitalist, has previously led a company, Livongo Health, through an IPO (it was eventually acquired by Teladoc).
Accolade's decision to exit the public markets and the fate of the combined Teladoc and Livongo show it's been a tough road for digital health companies trying to disrupt the notoriously inert healthcare sector as growth is harder to come by than it was in earlier days. The combined Teladoc-Livongo was valued at $37 billion at the time of the 2020 deal. It's now valued at just over $1 billion.
With more than 1,000 employees, Transcarent has raised $957 million, the latest in a Series D, and has a valuation of $3 billion. Major investors include General Catalyst, 7Wire Ventures and Jove Equity Partners.
Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at the most promising venture-backed companies.
