Turquoise Health lands $40M Series C to unify healthcare pricing
Turquoise Health, a U.S. healthtech company focused on making healthcare prices and payments more transparent, has raised $40 million in a Series C funding round led by Oak HC/FT. Andreessen Horowitz (a16z), Adams Street Partners, and Yosemite also participated. The round brings the company’s total funding to $95.3 million since its founding in 2021.
The company is targeting a major operational pain point in the U.S. healthcare system: fragmented contracts and pricing rules spread across multiple sources, which can contribute to denied claims, surprise bills, and high administrative overhead. Turquoise Health says its platform consolidates pricing data, contract terms, and clinical rules into a single system designed to produce clear, auditable rates and support real-time transactions.
From pricing data to contract intelligence and AI
Chris Severn, CEO and co-founder of Turquoise Health, said he started the company after experiencing pricing and billing complexity firsthand. The platform is built around three products: Clear Rates, which combines machine-readable files, claims data, and Medicare benchmarks to generate auditable payer-provider rates; Contracts, which uses AI to label and organize more than 65,000 contracts for faster search and negotiation; and AskTQ, an AI tool intended to reduce manual pricing and contracting research from weeks to seconds.
Adoption and what the new capital funds
The company says its tools are used by 10 of the top 25 health systems, 4 of 5 national payers, and 9 of 10 large pharmaceutical companies. With the new funding, Turquoise Health plans to expand go-to-market efforts, accelerate product development—particularly additional AI and transaction capabilities—and grow its workforce beyond 200 employees. Longer term, the company aims to enable automated, same-day payments by turning verified pricing into end-to-end transaction workflows across the U.S. healthcare market.
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