Andreessen Horowitz leads a $22M investment in Thyme Care to provide personalized care for cancer patients and help them through their cancer journey
In 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States, according to data from the American Cancer Society. As such, early cancer detection and screening is critical in reversing this trend. Without proper guidance, a cancer diagnosis can quickly lead to uncertainty for patients and unnecessarily high healthcare costs. That’s why one health tech startup is on a mission to provide personalized care for cancer patients.
Thyme Care is a Nashville-based oncology care startup with a personalized care team that helps cancer patients through their cancer journey. Thyme Care guides cancer patients and their caregivers through a complex healthcare system by providing personalized resources, support, and quick access to high-value care.
Today, Thyme Care announced it has closed a $22 million investment led by Andreessen Horowitz, AlleyCorp, and Frist Cressey Ventures with participation from Casdin Capital and Bessemer. The fresh capital infusion will be used to accelerate its technology and advance partnerships with oncologists, health plans, employers, and risk-based entities.
Thyme Care was founded by oncology industry veterans and clinicians all personally impacted by cancer, with a shared mission to transform the cancer experience and improve the quality of life for individuals diagnosed with cancer. With deep expertise in healthcare technology and cancer care, the Thyme Care team is building navigation services that combine human-first support and an extensive oncology network enabled by scalable, intuitive technology.
The company’s platform is the first in the industry to generate actionable insights that enable identification of individuals early in the cancer journey, while optimizing the patient experience and empowering clinicians to be able to better serve patients’ needs at scale.
“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,” said Robin Shah, Thyme Care’s CEO and Founder. “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.”
Navigation solutions often rely on limited technology without interaction with those who are actually delivering the care, leading to low engagement and utility at critical points of decision-making. Thyme Care guides better oncology outcomes by engaging individuals and families in their health and informing their decisions at every stage of care. The company’s platform connects patients, caregivers, providers, and payers for integrated cancer care that leads to better results, higher value, and aligned incentives.
“The entire Thyme Care team is rooted in deep clinical expertise, and is committed to using data and technology to impact clinical care,” said Vineeta Agarwala, MD, PhD, General Partner at Andreessen Horowitz. “Many of us have seen first-hand the gaps and disparities that exist in how patients access and receive cancer care today. Thyme Care’s platform provides the much-needed connective tissue between patients, payers, primary care providers, and specialized oncology care teams — so that everyone has the information, collaboration tools, and care management resources needed to serve patients best.”
To further expand its services to more cancer patients in the US, Thyme Care recently partners with health plans and oncologists to close gaps in cancer care for members and reduce unnecessary spending. The company also announced a strategic collaboration with Clover Health to deliver personalized cancer support and resources at no cost to Clover’s Medicare Advantage members across New Jersey.
“Cancer historically has been a very segmented experience, left for the patient to piece together,” said former U.S. Senator Bill Frist, MD, co-founder of Frist Cressey. “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.”