Thatch

We are thrilled to announce our $38M Series A led by General Catalyst and Index Ventures and with participation from other great investors such as Andreessen Horowitz, Avid Ventures, and The General Partnership. We will use these funds to build a brighter future for the U.S. healthcare system, where employers can provide better health benefits for less money, and employees can keep the same great benefits from job to job. Thatch is on a path to being the default platform every forward-thinking company uses to provide health and wellness benefits for their teams. Read more about our announcement here: https://lnkd.in/e5V-sgZH

We’re thrilled to share that Thatch is partnering with Fractional Leader Collective! 🎉 Together, we’re on a mission to empower world-class fractional leaders by making it easier than ever to bring high-quality, personalized health benefits to their clients. We know that navigating healthcare for businesses can be a major headache. That’s why this partnership is designed to simplify the process - so fractional leaders can focus on what they do best, while we take care of the rest. If you're a fractional leader looking to offer top-tier health benefits to your clients, we’ve got you covered. Learn more about the mission of Fractional Leader Collective here: https://lnkd.in/gdikRUjQ

Big news! Our CEO Chris Ellis will be speaking at this year’s Boost Benefits Summit on March 5th – a free, half-day virtual event bringing together 5,000+ benefits producers and industry leaders to share game-changing strategies. Here’s a taste of what’s on the agenda: ✓ Level-funded plans as a powerful differentiator ✓ Why 2025 will be ICHRA’s breakout year (and how to prep now!) ✓ Revolutionary systems simplifying enrollment, payments, and admin ✓ Lessons from the British Secret Service to master cross-selling ✓ Keynote with actor Zachary Levi on becoming a sales superhero Interested in joining the event? Registration is free! Grab a spot here 👉 https://lnkd.in/eZgkZzy9

I met a 1st-time founder who just raised a $38M Series A. For 2+ years he had 0 revenue. Until he found a problem in health benefits— & it took off: I met Chris Ellis because he posted this chart on LinkedIn. I had to know what happened. Turns out he partnered with a co-founder who was ex-Stripe, started Thatch, and raised $5M out of the gate in 2021. Everything started off as smooth as possible. Except the idea they had didn't work. They hired a few people, built some product, pitched for years. Nothing. No one cared. Then he noticed one of his biggest pain points was providing health benefits to his remote employees. He only had a handful of employees, but they were all in different states. They all kept complaining they couldn't get the insurance provider they wanted based on where they lived. It meant they sometimes couldn't even see their own doctor. His co-founder understood fintech, Chris understood health. So they decided to solve it. The result is the chart below. He went from nothing to 10,000 users paying $100+ per month. In one year! Is this a playbook you can replicate? No. Is this a lesson you can learn? Yes. When you solve a problem that businesses truly and desperately need, they will buy a lot of it and very quickly. You will not have a problem getting leads, closing demos, or growing top line. Your problem will be everything else. I know this is SO much easier said than done. But one thing I've found most surprising about the successful founders I've met is how willing they are to continue pivoting, iterating, and abandoning mid solutions in order to have a chance at finding the thing people really need. They keep re-inventing what their company is until they get absolutely insane pull. If you want to build a decent business, you don't need to do this. If you want the next unicorn, you absolutely must. #startups #venturecapital #founders

This is the exact problem we are solving!

Lots of transformation and disruption happening in the health benefits stack for employers this year... see you all at Transform 2025 to discuss! Thatch Firefly Health Milu Health Turquoise Health Omada Health Pomelo Care Thyme Care Counsel Health

These 21 AI companies recent raised, and they're hiring: 1) Mainframe - revolutionizing human-computer interaction through seamless tools that enhance productivity, raised $5.5M seed - SF / NYC / Miami / Remote 2) Basis - AI agents built for accountants, raised $34M series A - NYC 3) Speak - language learning app, raised $78M series C - SF 4) Graphite - AI code review platform, raised $20M series A - NYC 5) Cyera - AI-powered data security platform, raised $300M series D - NYC 6) Physical Intelligence - develop AI for robots, raised $400M series A - Remote 7) Cresta - AI that helps sales and customer service agents, raised $125M series D - SF 8) Infinitus Systems, Inc. - AI healthcare automating complex phone workflows, raised $51M series C - SF 9) Nooks - AI dialing and prospecting platform, raised $43M series B - SF 10) Tennr - AI healthcare startup provides platform for medical docs, raised $37M series B - NYC 11) Decagon - AI support agents for enterprise, raised $65M series B - SF 12) Prepared - Assistive AI for 911 calls, raised $27M series B - NYC 13) World Labs - develops AI models with spatial intelligence for 3d interaction, raised $230M series A - SF 14) Thatch - helps startups give healthcare to teams, raised $38M series A - Remote 15) Harmonic - building mathematical reasoning engine, raised $75M series A - SF 16) Sahara AI - decentralized AI blockchain platform, raised $43M series A - Remote 17) Slingshot AI - use AI to make mental healthcare more accessible, raised $30M seed - NYC 18) Captions - AI powered creative studio, raised $60M series C - NYC 19) Anterior - AI powered healthcare platform for insurance, $20M series A - NYC 20) Quilter - automate circuit board layout, raised $10M series A - Remote 21) Ambience Healthcare - AI operating system for healthcare, $70M series B - SF Let's get our friends hired in 2025. Share with your networks Follow Albert Chun for more

One of the biggest challenges small businesses face is navigating health insurance. 64% of small business owners are exploring health plan alternatives. Here's why:

We completely revamped our website at thatch.ai! As a startup, it's important not to undervalue the importance of a public site: it's the first thing every customer, candidate, investor, reporter, etc. looks at when assessing Thatch. To a degree it defines our brand and conveys a huge amount of feeling and can instantly either create an enormous amount of trust and confidence. Over our lifetime as a company, Thatch has evolved quite a bit: although we'll always want to appeal to tech-forward companies and startups, we're serving a much broader audience than we expected and felt the need to revamp the site to better align with where we're going. Check it out!