This Company Just Hit a $1 Billion Valuation And, Surprise, Its Not an AI Startup
News Source : Entrepreneur
News Summary
- Thatch helps employers offer workers an individual health plan marketplace instead of one-size-fits-all coverage.
- Employer healthcare costs are projected to jump more than 8% in 2027, the biggest increase since 2003.
- Workers then shop a marketplace of dozens of health, dental and vision plans, and pocket any leftover funds for other health expenses, including GLP-1 drugs like Ozempic.
- The company grew its annual recurring revenue roughly 7x, CEO and co-founder Chris Ellis told TechCrunch.
Every hot startup this year seems to have AI somewhere in its pitch. But Thatch just raised $108 million at a $1 billion valuation with the idea of making healthcare cheaper.
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