Thyme Care has secured $97 million in Series D funding, bringing its total capital raised to $275 million. The round was led by existing investors CVS Health Ventures, Foresite Capital, a16z Bio + Health, Concord Health Partners, Town Hall Ventures, AlleyCorp, and Frist Cressey Ventures.
Strategic investors joined the round for the first time, including Morgan Health (JPMorganChase's employer healthcare division), Humana, Texas Oncology, and Memorial Hermann Health System. The participation of these healthcare industry players signals strong market validation for Thyme Care's value-based oncology model.
The funding comes as cancer rates continue to climb nationwide, creating significant challenges for both patients and healthcare providers. Traditional cancer care systems often leave patients struggling with fragmented services, administrative burdens, and gaps in support.
"The system was not designed for people with cancer, and too often patients fall through the cracks," said Robin Shah, CEO and Co-Founder of Thyme Care. "My co-founder, Dr. Bobby Green, and I have seen this from the inside out for decades. We've witnessed it at the bedside in community practices and in building national infrastructures at Flatiron Health and OneOncology, and we founded Thyme Care to change it."
The new funding will help Thyme Care expand its AI orchestration layer that connects different parts of the cancer care ecosystem. This technology reduces cognitive overload on care teams while delivering personalized support to patients throughout their cancer journey.
Artificial intelligence plays a central role in Thyme Care's next growth phase. The platform uses AI to automate documentation, surface real-time insights, and synthesize complex patient data. This approach reduces administrative burden on healthcare providers and ensures patients receive timely interventions when needed.
Since launching in 2020, Thyme Care has grown rapidly to manage more than $5 billion in oncology spending while serving 8 million people nationwide. The company works with over 1,000 oncologists across the country and recently achieved profitability.
The platform's impact shows measurable improvements across key healthcare metrics. About 90% of members report feeling more supported by Thyme Care's team of doctors, nurses, oncology social workers, and care partners. Members who complete electronic patient surveys are 40% less likely to visit emergency rooms and have 19% fewer hospital admissions.
Healthcare providers also benefit from reduced administrative workload. One partner practice saved nearly 2,000 hours of staff time in a single year, allowing clinicians to focus more on direct patient care rather than paperwork.
The participation of major healthcare industry players demonstrates strong confidence in Thyme Care's approach to value-based cancer care.
"This raise is overwhelmingly backed by strategic investors across the oncology care delivery landscape, including payers, providers, employers, and health systems who deeply understand the complex needs of oncology populations and who see firsthand the impact of Thyme Care's model," said Brad Diephuis, MD, President and Chief Operating Officer at Thyme Care.
"Employers increasingly identify cancer as a top driver of their health care spend. At the same time, they care deeply about offering their employees access to high-quality, personalized cancer care," said Dan Mendelson, CEO of Morgan Health. "Thyme Care can balance these needs and is already making early progress with Fortune 500 companies."
Thyme Care's business model aligns financial incentives between payers and providers by focusing on outcomes rather than volume of services. The company partners with health plans, employers, and healthcare providers to take accountability for care quality, health outcomes, and total cost management.
The platform integrates services like palliative care and survivorship support directly into its care model, creating a more comprehensive approach to cancer treatment. This integration helps fill gaps that traditionally leave patients managing complex care coordination on their own.
"We continue to invest in Thyme Care because of the meaningful impact their model has on improving the lives of people with cancer," said Vijay Patel, managing partner at CVS Health Ventures. "Through their technology, partnerships, and national scale, we've seen how Thyme Care can help deliver more coordinated interventions and a care experience that feels more connected, human, and affordable."
