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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsThatch announced a $40 million Series B on April 3, 2025, led by Index Ventures, to expand its health-benefits platform. The company says its model lets employers set a health budget while employees choose insurance and eligible care options; what is available depends on the employer’s setup and plan rules. The round is part of a larger funding story: Thatch later announced a $108 million Series C at a company-reported $1 billion valuation.
What Thatch’s $40 million Series B funded
Thatch said the April 3, 2025 financing would support expansion of its health-benefits platform, including carrier and payroll integrations. Index Ventures led the round. The company named Andreessen Horowitz (a16z), General Catalyst, ADP Ventures, SemperVirens, PeopleTech Partners, and The General Partnership as participants. Thatch’s announcement and TechCrunch’s contemporaneous report describe the financing.
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Thatch’s announcement framed the investment as support for its goal of making health benefits “personal, portable, and accessible for every American.” That is the company’s stated vision, not evidence that the platform has independently demonstrated better outcomes or lower costs.
How Thatch’s health-benefits model works
In a traditional employer-selected group plan, the employer chooses the insurance offering for workers. Thatch describes a different arrangement: an employer sets a health budget, and employees select coverage and eligible healthcare expenses that fit their needs. Company materials describe health, dental, and vision plan choices, with possible use of remaining funds for expenses such as prescriptions, therapy, or diagnostics.
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That structure is associated with ICHRA, an Individual Coverage Health Reimbursement Arrangement. In TechCrunch’s April 3, 2025 report, Thatch co-founder Adam Stevenson described ICHRA as allowing businesses to give employees tax-free money to spend on healthcare. That explanation is attributed to Stevenson; eligibility, tax treatment, and reimbursable expenses depend on applicable rules and the specific employer plan.
What employees may be able to spend the budget on
The platform’s options depend on employer settings and plan rules. Thatch’s current materials describe insurance selection and eligible medical expenses, but they do not establish that every employee can use funds for every listed category. Its Marketplace homepage says it offers pricing from more than 50 partners, a company-reported count that can change. The support page lists partners including Oura Ring, Hims, Truemed, Function Health, Sesame Care, Prenuvo, Grow Therapy, and Everlywell; access to eligible non-insurance expenses is available only when an employer permits use of leftover balances for them. See Thatch’s Marketplace and its support materials for current product and eligibility information.
Where the Series B sits in Thatch’s funding history
The $40 million Series B is not Thatch’s latest announced financing. In 2026, the company announced a $108 million Series C at a $1 billion valuation, figures reported by Thatch itself. The two amounts refer to separate rounds, not a combined financing total. Thatch’s Series C announcement is the source for the later round and valuation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the announcement does—and does not—show
The financing and product description explain how Thatch intends to grow a model that gives employees more choice over coverage and eligible care spending. They do not establish that employees save money, receive better care, or have a broader selection in every location. Available plans, provider networks, employer contributions, and expense eligibility can vary, so a worker’s actual choices depend on their employer’s offering and individual plan terms.
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