Thatch Secures $40M Series B to Expand Customizable Healthcare Platform

The San Francisco startup's valuation triples as it scales its ICHRA-based platform and strengthens industry partnerships.

Thatch has raised $40 million in a Series B funding round led by Index Ventures, bringing its total equity funding to $84.5 million since its 2021 launch.
The company's valuation is now three times higher than its Series A valuation from February 2024, though specific figures were not disclosed.
Thatch's platform enables employers to offer Individual Coverage Health Reimbursement Arrangements (ICHRA), allowing employees to customize their health insurance plans and carry over unused funds.
Recent strategic moves include a live partnership with QuickBooks for embedding ICHRA accounts and ongoing development of a similar integration with ADP.
Thatch has onboarded over 1,000 companies since launching its platform in August 2023, achieving 8x year-over-year revenue growth and hiring industry veteran Gary Daniels as chief growth officer.