Turquoise Health Corp. raised $40 million in Series C funding, led by Oak HC/FT, with participation from Andreessen Horowitz, Adams Street Partners, and Yosemite. Total capital raised now stands at $95.3 million.
The startup targets healthcare’s $1 trillion annual administrative waste-rooted in siloed contracts, opaque pricing, and delayed claims. Its platform consolidates payer-provider contracts, clinical rules, and pricing data into a single real-time infrastructure.
Co-founder and CEO Chris Severn launched Turquoise in 2021 after firsthand experience with billing chaos. The company’s suite includes Clear Rates-delivering auditable, payer-specific service rates; Contracts-an AI tool for instant contract term search; and AskTQ, a natural-language chatbot for pricing and contract queries.
Turquoise is embedded across 10 of the top 25 U.S. health systems, four of the five largest payers, and nine of the top 10 pharmaceutical companies.
Funds will accelerate AI-powered transaction tools, expand its 200-person team, and scale toward fully automated, same-day payments nationwide.