Garner Health Raises $118 Million Series D Led by Kleiner Perkins

New York-based Garner Health has raised $118 million in Series D funding led by Kleiner Perkins, announced in a press release. The round included participation from Redpoint, Maverick, Kaiser Permanente Ventures, Mercy, Plus Capital, and other existing investors, valuing the company at $1.35 billion.

The funding brings Garner’s total capital raised to about $200 million. The company said it will use the new funds to expand its AI-powered provider-ranking engine and incentive platform, which helps lower healthcare costs for over 2.5 million members. The platform identifies high-performing doctors using one of the nation’s largest medical datasets, covering more than 320 million patient records.

Garner reported revenue growth of over 130% year-over-year as employers seek alternatives to traditional provider search tools. The company’s system incentivizes patients to choose top-rated providers by reducing or covering out-of-pocket costs, resulting in average first-year employer savings of 12%.

Garner currently works with more than 700 clients, including large employers, health plans, and healthcare providers across the United States.