Cancer care startup Thyme Care raises $60M, beating the odds of raising a Series B during digital health’s funding slowdown

A can­cer care start­up found­ed by two Flat­iron Health alums in Au­gust raised $60 mil­lion to bring its val­ue-based ap­proach to can­cer care co­or­di­na­tion to more peo­ple.

Found­ed in 2020, Nashville-based Thyme Care pro­vides ser­vices to care for can­cer pa­tients when they’re not at their doc­tor’s of­fices, work­ing with health plans and providers to do so.

It’s been hard­er for health tech star­tups to raise larg­er, lat­er-stage rounds, with many this year in­stead go­ing for un­la­beled rounds of fund­ing or ex­tend­ing Se­ries A rounds. And while dig­i­tal health fund­ing has slumped in 2023 — com­pa­nies raised $6.1 bil­lion in the first half of this year com­pared with $10.3 bil­lion in 2022 — there have been five no­table Se­ries B rounds by star­tups in the last two months (in­clud­ing Thyme’s), ac­cord­ing to dig­i­tal health re­search and ven­ture firm Rock Health.

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