Garner Health announced it has raised $118 million in Series D funding to scale its provider-ranking and incentive platform, which the company says helps patients find higher-quality doctors while lowering healthcare costs for employers and members. Garner said the round values the company at $1.35 billion and brings total capital raised to approximately $200 million.
The round was led by Kleiner Perkins with participation from Redpoint, Maverick, Kaiser Permanente Ventures, Mercy, Plus Capital, and other existing investors. Garner said it will use the new funding to further expand its proprietary doctor-ranking platform, scale AI-driven navigation and appointment-booking capabilities, and grow its team to support a rapidly expanding customer base.
Garner framed its product around what it called a fundamental market failure in U.S. healthcare: limited transparency into physician quality and weak incentives for patients to seek out high-performing providers. The company said its platform leverages one of the nation’s largest medical datasets, covering more than 320 million patient medical records, to identify doctors who follow the latest research, avoid unnecessary procedures, and help patients get healthy faster.
Unlike traditional provider search and transparency tools, Garner said it drives behavior change by operating as a financial administrator that layers on top of existing health plans. When employees use Garner to choose a “Top Provider,” the employer covers all or most out-of-pocket costs, including deductibles and co-pays. Garner said this structure results in employees paying an average of 80% less out of pocket to see higher-ranked doctors, while employers see an average 12% reduction in total healthcare spend in the first year.
The funding comes as Garner reported strong growth, noting that revenue is up more than 130% year over year as employers seek alternatives to conventional provider search tools. The company said its platform now serves more than 2.5 million members and counts more than 700 clients and partners, including large employers, health plans, and providers.
KEY QUOTES
“The single most important health decision we make is which individual doctor we see when we need care. Our data shows that the top-performing doctors have 75% lower rates of complications and mortality than their peers. By identifying these providers and creating the financial incentives for patients to see them, we aren’t just saving money—we’re fundamentally re-engineering the healthcare marketplace to reward quality.”
Nick Reber, Founder And CEO, Garner Health
“Garner delivers a rare double win in healthcare: getting patients to the highest quality doctors while simultaneously cutting costs at scale. Already serving 2.5 million people, Garner is fundamentally reshaping the way Americans access healthcare.”
Josh Coyne, Kleiner Perkins
