Thyme Care Closes $125M Series E, Doubles Valuation Above $2B

Cancer-navigation startup Thyme Care raised a Series E of more than $125 million at a valuation above $2 billion, roughly doubling from its Series D less than a year ago, CNBC reported. JPMorgan's Morgan Health led the round, with Humana, CVS Health Ventures, a16z Bio + Health, AlleyCorp, HealthQuest Capital, Foresite Capital and Town Hall Ventures also participating.

The scale numbers help explain the step-up. Thyme's services now reach more than 10.5 million people across all 50 U.S. states, and the company says it manages more than $7 billion in oncology spend. Revenue surpassed $125 million last year, five times the prior year, according to the company's announcement. Thyme ranked No. 18 on CNBC's 2026 Disruptor 50 list.

The round also establishes a new parent, Thyme Companies, meant to house a broader portfolio of oncology businesses beyond the core navigation platform. Co-founder Robin Shah, who stepped down as CEO in July with then-president and COO Brad Diephuis taking over, becomes executive chairman of the new parent.

"When we founded Thyme Care, our vision was never limited to one part of cancer care," Shah said in the announcement. "We wanted to create a better oncology care system." Morgan Health CEO Dan Mendelson framed the re-up in payer terms: "We're continuing to invest in Thyme Care because we're confident they can continue to deliver value to patients and payers."

It's another entry in a heavy run of healthcare AI rounds on our tracker, with 54 stories logged in the last 90 days. Thyme's platform combines 24/7 specialized cancer care navigation, data insights and oncologist-led therapeutic interventions, and integrates with more than 1,000 oncologists through its Thyme Care Oncology Partners network.