Senior Advisor, Board Member, Venture Advisor, former CMO
Thatch
Thatch replaces traditional group health insurance with employer-funded health budgets that employees use to purchase individual plans and pay for care that fits their needs. The platform includes a curated marketplace of 50+ health and wellness partners, plus hands-on enrollment support, and is trusted by over 5,000 companies.
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Updated 1 month ago
Funding
Raised to date
$108MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 1 round
+2$108M · Undisclosed
Announced Sep 2026 · from article date
Disclosed cumulative: $108M
RoundDateAmountValuationInvestors
Founders
Product
Problem
Employers face a growing administrative burden managing brokers, plans, and enrollment for traditional group health benefits, while employees are locked into one-size-fits-all insurance plans that often don't match their personal healthcare needs or preferences. This rigid model limits choice, drives up costs, and leaves many employees without access to services like mental health support, GLP-1 medications, or advanced diagnostics.
Solution
Thatch provides a platform that shifts employers from traditional health benefits to individualized health budgets. Employers set a per-employee budget based on age, location, and dependents, and employees use those funds to select their own insurance plan from top carriers, filtered by their preferred doctors, hospitals, or prescriptions. Remaining budget can be spent on copays, prescriptions, therapy, GLP-1s, fertility care, and other qualified medical expenses through Thatch Market, a curated ecosystem of 50+ partners with exclusive pricing. Thatch handles third-party administration of Healthcare Payments Accounts such as ICHRAs, and offers human-first support with benefits experts available by phone, text, or email, including extended hours during open enrollment.
Target Audience
Primary customers are small to mid-sized employers seeking a more flexible, cost-predictable alternative to traditional group health insurance, as well as brokers and benefits consultants managing ICHRA adoption for their clients.
Features
- Employer-defined health budgets with personalized amounts based on employee age, location, and dependents
- Marketplace of individual insurance plans from major carriers, filterable by doctors, hospitals, and prescriptions
- Thatch Market with exclusive pricing from 50+ partners covering mental health, weight-loss, fertility, and advanced diagnostics
- Tax-free spending of remaining budget on qualified medical expenses via a Visa debit card and Healthcare Payments Accounts
- Hands-on enrollment support with over 85% of employees selecting benefits independently, plus extended evening and weekend support during open enrollment
- Integrations with payroll platforms including Gusto, Justworks, Paychex, and ADP RUN for streamlined sign-up and administration