The round was led by Index Ventures and General Catalyst, along with new investors SemperVirens and The General Partnership, with participation from existing investors including Andreessen Horowitz (a16z) and Avid Ventures. This investment will fuel Thatch's mission to correct an accident of history and decouple health insurance from employment.

Thatch is on a mission to help businesses give great healthcare to their employees in under five minutes. Founded in 2021 by Chris Ellis and Adam Stevenson, Thatch is the modern health benefits platform for startups. The platform includes a Thatch card for all healthcare spend, tech-enabled HSA to save for future expenses, and bill resolution experts on-demand to answer healthcare financial questions.