California-based Carrum Health, a digital marketplace allowing employers to purchase bundled healthcare services, has received $45 million in Series B funding led by OMERS Growth Equity.
Revelation Partners participated in the round, alongside existing investors Tiger Global, Wildcat Venture Partners, SpringRock Ventures and Cross Creek.
Teresa Lee, OMERS Growth Equity’s managing director, will join Carrum’s board of directors.
WHAT IT DOES
Carrum Health offers a value-based platform that allows self-funded employers to buy specialty care, focusing on surgical and cancer care. It provides a digital platform that gives patients access to a care specialist that guides them through the surgical process and employers a platform for navigating Carrum’s network.
The San Francisco-based company’s Center of Excellence network highlights what it considers to be high-quality surgical centers across the U.S. for patients and employers.
The company will use the funds to expand its oncology benefits offerings and scale its surgical care service lines.
“With its Centers of Excellence network, digital platform and data-driven surgical episode bundling capabilities, Carrum Health has created a solution that allows for real-time and measurable value to employers, as well as a superior patient and clinician experience,” said Teresa Lee of OMERS. “The company is well-positioned to transform how healthcare is delivered and paid for, and we look forward to supporting the management team in realizing that vision.”
MARKET SNAPSHOT
In 2021, Carrum Health closed a $40 million Series A funding round.
The same year, Hinge Health and Carrum announced a partnership unveiling an end-to-end musculoskeletal solution that joined Hinge’s digital musculoskeletal clinic with Carrum’s Center of Excellence platform.
Last Year, Carrum was added to employee-focused care-navigation and pharmacy-benefits platform Rightway’s ecosystem partnership program dubbed RightwayHub.
Carrum also added Seema Verma to its corporate advisory board. Verma served as the Centers for Medicare and Medicaid Services administrator from 2017 to 2021.
Other employer-focused platforms include Lyra Health, a behavioral health-benefits platform for employers, and LifeSpeak, an employer-focused digital mental health company.