Thyme Care secured $125 million in a Series E funding round. The investment values the virtual cancer care platform at more than $2 billion. This valuation represents a twofold increase from the company's previous round less than a year ago.
Morgan Health led the round with participation from Humana and CVS Health Ventures. The company is launching a parent entity, Thyme Companies, to address oncology gaps like biosimilar drugs and clinical trial access.
Thyme Care reports it is currently profitable with positive free cash flow. The platform manages over $7 billion in annual oncology spending. The company currently serves more than 10.5 million people across the United States.