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News
Thatch, a platform reimagining employer-sponsored health benefits, just raised $108M in Series C funding — pushing its valuation to $1 billion. The startup lets employers set flexible health budgets and employees pick their own plans, ditching the traditional one-size-fits-all model. Backed by heavyweights like General Catalyst, Andreessen Horowitz, and even Eli Lilly, Thatch now powers benefits for over 5,000 employers.
Thatch, a modern health benefits platform, has officially joined the unicorn club after closing a $108 million Series C funding round that values the company at $1 billion. The round drew an impressive roster of investors — including General Catalyst, Index Ventures, Andreessen Horowitz, and strategic backers like Eli Lilly, ADP Ventures, and Paychex — signaling strong confidence from both the venture and healthcare establishment worlds.
The platform takes a consumer-first approach to employer-sponsored benefits. Instead of locking employees into a single plan, Thatch lets employers set a health budget and employees choose the coverage that fits their needs. A Thatch Visa debit card covers out-of-pocket costs for employees who spend under budget, and the platform integrates tax incentives and payroll systems for a seamless experience.
By the Numbers:
Why it matters: As healthcare costs continue to strain both employers and employees, Thatch's flexible, personalized approach could reshape how millions of Americans access health benefits — particularly for small businesses that have historically lacked affordable, customizable options.
