Thatch hits $1B valuation with $108M raise

Thatch raised $108 million in Series C funding at a $1 billion valuation, reported September 15, 2026. The health-benefits platform runs an ICHRA marketplace — a system letting employers give workers set budgets to buy their own insurance. Founded in 2021 by Chris Ellis and Adam Stevenson, it follows a $40 million Series B about 17 months earlier.