A Nashville oncology startup has fresh capital.
Thyme Care has closed on a $22 million round of funding, according to a news release, led by Andreessen Horowitz, AlleyCorp and Frist Cressey Ventures with participation from Casdin Capital and Bessemer.
Founded in 2020, Thyme Care partners with health plans and employers to close care gaps and reduce unnecessary spending through its cancer navigation services, oncology network and tech platform, according to the release. The platform connects patients, caregivers and payers, while also using data to identify cancer patients early in their diagnosis.
The funds will go toward ramping up Thyme Care’s technology and adding partnerships with oncologists, health plans and employers.
“As someone who has spent 15 years working in oncology, I’m shocked at the difference in the patient experience between a person that has a friend or family member working in oncology and someone who is left to figure it out on their own. An insider can make the difference,” Robin Shah, Thyme Care CEO and founder, said in the release. “Everyone deserves to have the best access to care and our health shouldn’t be determined by the personal relationships we have. We created Thyme Care to be that insider and patient companion from the start, and a knowledgeable support system throughout the entire cancer journey, for everyone.”
As part of the investment, Dr. Vineeta Agarwala, general partner at Silicon Valley-based Andreessen Horowitz; Dr. Brenton Fargnoli, managing partner of New York City-based AlleyCorp Healthcare Fund and former U.S. Senate Majority Leader Dr. Bill Frist, co-founder and partner of Nashville-based Frist Cressey Ventures, will join Thyme Care’s board of directors.
Frist Cressey Ventures has had a busy 2021, most recently leading a $160 million round of funding in kidney care management startup Monogram Health. The firm has also backed rural health startup Main Street Health, led by former Aspire health co-founder and CEO Brad Smith.
“Cancer historically has been a very segmented experience, left for the patient to piece together,” Frist said in the release. “Healthcare owes it to individuals navigating this challenging diagnosis to provide the immediate care necessary, as well as a way to easily access the financial resources they need and someone to close the gaps in their entire experience. That should not be the responsibility of the patient. Thyme Care is the solution every cancer patient and their loved ones deserve.”