OMERS Growth Equity leads $45m Series B funding of Carrum Health

• New investor Revelation Partners also participated, as did return investors Tiger Global, Wildcat Venture Partners, Cross Creek and SpringRock Ventures
• Teresa Lee, managing director of OMERS Growth Equity, will join Carrum Health’s board of directors
• The company will use the funds raised to expand its growing oncology benefit offerings and scale its surgical care service lines

San Mateo, California-based Carrum Health, a value-based healthcare company enabling self-funded employers to buy medical care, has raised $45 million in Series B financing.

The round was led by OMERS Growth Equity. New investor Revelation Partners also participated, as did return investors Tiger Global, Wildcat Venture Partners, Cross Creek and SpringRock Ventures.

Teresa Lee, managing director of OMERS Growth Equity, will join Carrum’s board of directors.

Founded in 2014, Carrum Health helps self-funded employers immediately reduce their spend for the most prevalent and costly conditions, including cancer, musculoskeletal, cardiovascular, and bariatric.

The company will use the funds raised to expand its growing oncology benefit offerings and scale its surgical care service lines.

“We are very excited to partner with Carrum Health, a pioneering and differentiated player in the healthcare space, that offers an innovative, scalable approach in the shift to value-based care, said OMERS Growth Equity’s Lee in a statement. With its Centers of Excellence network, digital platform and data-driven surgical episode bundling capabilities, Carrum Health has created a solution that allows for real-time and measurable value to employers, as well as a superior patient and clinician experiences. The company is well-positioned to transform how healthcare is delivered and paid for, and we look forward to supporting the management team in realizing that vision.”