Thyme Care, a cancer care startup serving more than 10.5 million people across all 50 states, raised more than $125 million in a Series E that more than doubled its valuation to over $2 billion. The company says it manages more than $7 billion in oncology spend, has reduced total cost of care by 5% to 10%, and will use the new capital to expand beyond virtual oncology navigation into drug affordability and clinical trial enrollment.

Why It Matters To Oncology

• Thyme Care is broadening from care navigation into oncology adjacencies that matter for drug discovery and delivery, including biosimilar adoption and clinical trial recruitment.

• Its next businesses target two persistent bottlenecks: high cancer drug costs and slow enrollment that can delay study timelines and limit patient access.

• For clinicians, that could mean more support between visits, lower-cost treatment pathways, and improved matching of patients to trials.

The Financials

• Morgan Health led the Series E, with participation from Humana, CVS Health Ventures, AlleyCorp, HealthQuest Capital, Foresite Capital, Concord Health Partners, Frist Cressey Ventures, Town Hall Ventures and a16z Bio + Health.

• The round raised more than $125 million and valued the company at more than $2 billion, up from a $1 billion valuation tied to its $97 million Series D less than a year ago.

• Thyme Care reported more than $125 million in revenue last year, about 5x the prior year, and says it is profitable with positive free cash flow.

What They're Saying

• Morgan Health CEO Dan Mendelson said Thyme Care is helping make it possible to improve cancer care while lowering costs for people living with cancer.

• Co-founder Robin Shah has described the company's focus as addressing “the care in between” oncology appointments, including symptoms, questions and coordination needs that often fall to patients.

• The company says its technology can automate documentation, synthesize patient data and generate guidance for care teams.

What's Next

• Thyme Care is creating a parent entity, Thyme Companies, to house Thyme Care and new oncology-focused businesses.

• Cancer drug affordability is one of the first expansion areas, with plans to support wider use of lower-cost biosimilars.

• Another business in development will focus on clinical trial enrollment, and the first new launch is expected later this year.