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Health benefits platform Thatch reaches $1B valuation as healthcare costs surge

TechCrunchSeptember 15, 20263 min read

Thatch helps employers keep healthcare costs manageable by offering an individual plan marketplace through an Individual Coverage Health Reimbursement Arrangement — a model that lets companies fund employees' own individual insurance plans instead of enrolling everyone in one company-wide plan.

Thatch, a platform that lowers healthcare costs for employers while expanding plan choices for workers, has raised $108 million at a $1 billion valuation from existing investors: The General Partnership, Index Ventures, General Catalyst, and Andreessen Horowitz. The new fundraise comes 17 months after Thatch raised a $40 million Series B at a $410…

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