Garner Health company profile: valuation, funding & revenue

This Garner Health company profile covers the company's valuation, revenue, funding rounds, investors and history. Garner Health works in healthcare, with a focus on care navigation and employer benefits. It was founded in 2019 and is headquartered in New York, New York, United States. Its latest valuation on record is US$2.74 billion (May 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Garner Health timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2019 — Garner Health is founded in New York by Nick Reber (CEO) and co-founders.
• Feb 2026 — Series D: US$118M, valuing the company at US$1.35B. Investors: Kleiner Perkins (lead); Redpoint, Maverick, Kaiser Permanente Ventures, Mercy, Plus Capital.
• May 2026 — Series E: US$100M, valuing the company at US$2.74B. Investors: Index Ventures (lead).
• February 2026 — Members and clients: More than 2.5 million members across about 700 clients; revenue growth above 130% year over year (company-reported).

Investors

Overview

Garner Health helps employers and their employees find the best doctors. It analyses large volumes of medical claims and records to rank physicians on whether they deliver effective, appropriate care, then recommends top-ranked doctors to members through an app. Employers offer Garner as a benefit, and when employees visit recommended doctors, Garner reimburses some or all of their out-of-pocket costs, encouraging them to choose higher-quality care. In February 2026 it raised a US$118 million Series D led by Kleiner Perkins at a US$1.35 billion valuation, and said it had more than 2.5 million members across about 700 clients.

Nick Reber, the CEO, co-founded Garner in 2019 in New York. The founders saw that the quality of doctors varies widely, even within the same specialty and city, but patients rarely have reliable information to choose, and insurance networks generally treat all in-network doctors as equivalent.

Products

• Doctor rankings: data-driven assessments of physicians based on claims and medical record data.
• Member app: search and recommendations for top-ranked doctors near each member.
• Out-of-pocket reimbursement: covering deductibles and copays when members use recommended doctors.
• AI navigation and booking: tools to help members find and book appointments.
• Employer analytics: reporting on utilisation and estimated savings.

Funding

Garner raised earlier rounds from investors including Redpoint Ventures and Maverick Ventures. In February 2026 it raised a US$118 million Series D led by Kleiner Perkins, with Redpoint, Maverick, Kaiser Permanente Ventures, Mercy, Plus Capital and other existing investors, at a US$1.35 billion valuation, according to company executives quoted by Fierce Healthcare. Reports put lifetime capital at roughly US$200 million. The company said the money would expand its platform, scale AI-driven navigation and booking, and grow its team.

Business model

Garner charges employers fees for its programme, typically per member, alongside the reimbursement fund that pays members' out-of-pocket costs at recommended doctors. Employers benefit if better doctor choices reduce unnecessary tests, procedures and complications, lowering overall health spending. Garner has said employers see an average 12% reduction in healthcare spending in the first year, a company figure that hasn't been independently verified.

Competition

Garner competes with healthcare navigation companies such as Included Health, Accolade (acquired by Transcarent) and Quantum Health; with insurer tools that recommend doctors; and with transparency and price comparison tools. Its distinctive features are physician-level quality rankings and the incentive of covering out-of-pocket costs.

Garner Health at a glance

Garner Health is a New York healthcare navigation company co-founded in 2019 by Nick Reber. It ranks doctors using claims and medical data and reimburses employees' out-of-pocket costs when they visit top-ranked physicians. It raised a US$118 million Series D led by Kleiner Perkins in February 2026 at a US$1.35 billion valuation, with more than 2.5 million members.

Timeline

• 2019: founded.
• 2021–2024: grows with self-insured employers.
• February 2026: raises US$118 million at US$1.35 billion.

Why doctor quality data matters

Studies have shown wide variation in how doctors treat similar patients: some order many more tests or procedures, some follow guidelines more closely, and outcomes differ. For employers that pay their employees' medical costs directly, known as self-insured employers, steering employees toward doctors who provide appropriate, effective care can reduce spending and improve health. The challenge has been measuring quality fairly, which requires large data sets and careful adjustment for differences in patients. Garner's data and methods are its core asset.

Why incentives work

Information alone often doesn't change behaviour. By covering out-of-pocket costs for recommended doctors, Garner gives employees a concrete reason to choose them. This aligns employees, employers and Garner around higher-quality care. The model depends on the cost of reimbursements being smaller than the savings from better care.

Who funds Garner Health

Garner's investors include Kleiner Perkins, which led its Series D, Redpoint Ventures, Maverick Ventures, Kaiser Permanente Ventures, Mercy and Plus Capital.

Who uses Garner Health

Garner's customers are mainly self-insured employers, and its members are their employees and families.

Valuation context

Garner became a unicorn in 2026, as investors favoured health companies with strong growth and measurable savings. Our guide to health tech unicorns compares it with peers.

Risks

• Measurement: doctor rankings must be fair and accurate.
• Savings proof: employers want verified reductions in costs.
• Competition: navigation companies and insurers offer similar tools.
• Provider pushback: lower-ranked doctors may dispute rankings.

Questions for employers

• How are doctors ranked, and how is the method validated?
• How are savings measured and reported?
• What does the reimbursement fund cost?

How a member uses Garner

Suppose an employee needs a knee specialist. Instead of picking a name from a long insurance directory, they open the Garner app, search for orthopaedic surgeons nearby and see a short list of top-ranked doctors. If they book with one of those doctors, Garner reimburses their deductible and copay, sometimes covering the entire out-of-pocket cost. The employee gets a doctor with a strong track record of appropriate care at little personal cost, and the employer potentially avoids unnecessary surgery or repeat procedures. Garner tracks which doctors members choose and estimates the savings for employers. The model works best for self-insured employers, which directly bear their employees' medical costs and therefore benefit most from better care choices.

Doctor rankings are based on patterns in large data sets, such as whether a surgeon tends to recommend surgery when conservative treatment would work, or whether a primary care doctor's patients have fewer avoidable hospital visits. Adjusting for differences in patient populations is essential to make comparisons fair.

Independent evaluations would strengthen confidence in these results.

Latest developments (October 2026)

Garner Health raised twice in 2026: a US$118 million Series D led by Kleiner Perkins at US$1.35 billion in February, and a US$100 million Series E led by Index Ventures at US$2.74 billion in May, according to Pulse 2.0. It reported nearly 800 employer customers and about US$200 million in gross annual recurring revenue. This supersedes the February 2026 valuation described earlier on this page.

What to watch

Watch member growth, independent evaluations of savings, AI booking features and new funding.

Takeaways

Employees can find high-quality doctors at lower cost. Employers may reduce health spending. Investors should look for independent evidence of savings.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Pulse 2.0
2. Fierce Healthcare