Turquoise Health plans to use the funds to scale its product development operations. Here are the top-line bullets you need to know.
Turquoise Health, a healthcare cost transparency platform, has raised $5.2M in a seed funding round. The round drew participation from Andreessen Horowitz, Bessemer Venture Partners, and BoxGroup, among others.
HOW’S THE COMPANY PERFORMING?
- San Diego-based Turquoise Health’s search engine helps users compare relative costs of care. The company also provides contract negotiation between providers and payers to ascertain the cost.
- The company has curated 175M hospital price records to date on its platform.
Source: Tourquoise Health
WHY DOES THE MARKET MATTER?
- The digital health market is expected to be valued at $639B by 2026, growing at a CAGR of 28.5%, according to Global Market Insights.
- Global healthcare investment rose for the seventh consecutive quarter in Q2’21, albeit at a slower pace. Funding surpassed $34.7B across nearly 1.6K deals. The acceleration of digital transformation initiatives was a major contributor, with digital health startups accounting for 40% of both the deals and funding raised in the quarter ($14.1B across 628 deals).