Stephanie Peng Joins Transcarent as Chief Financial Officer
Former CFO for Teladoc Health U.S., and Livongo Health Finance Leader to Help Scale Transcarent’s Financial Operations
September 8, 2021
San Francisco, CA, September 8, 2021 – Transcarent, a health and care experience company for employees of self-insured employers and their families, today announced the appointment of Stephanie Peng as its Chief Financial Officer. Ms. Peng will scale Transcarent’s financial operations in preparation for rapid market expansion. Ms. Peng is a proven business leader and finance executive with more than two decades of experience leading and scaling category winners in the digital health and technology industries. She will report to Transcarent’s Chief Executive Officer, Glen Tullman.
Prior to joining Transcarent, Ms. Peng served as the CFO for U.S. at Teladoc Health, where she was the financial strategist and steward for four businesses with a combined $2 billion in annual revenues. Previously, she was Senior Vice President of Finance at Livongo Health, where she played a key leadership role in the largest consumer digital health IPO in history, a secondary offering, a convertible debt offering raising over $550 million, and Livongo’s $18.5 billion merger with Teladoc Health. She was also CFO at Vida Health, where she led a venture capital round to scale the company's platform and Chief Accounting Officer and Treasurer at Upwork, where she led a transformational merger and prepared the company for its IPO.
"Stephanie is an experienced financial executive with a proven track record of improving financial operational efficiency, executing complex M&A transactions, and driving business development and strategy for high growth companies," said Tullman. "At Livongo, Stephanie proved to be an invaluable partner. She brings a unique perspective to our leadership team as we continue to grow Transcarent and deliver health and care experiences our Members can trust.”
Transcarent delivers a personalized, 24/7 care experience, addressing virtually all of the most common and most challenging issues a person faces by connecting them with a personal Health Guide or physician via chat in 60 seconds, phone, or video, offers expert second opinions, medication review and management, virtual physical therapy, and comprehensive appropriate site-of-care surgery solutions. Transcarent is empowering Members to take control of their health and care with easy access that meets them where they are. Members can easily engage Transcarent’s Health Guides and clinical teams for unbiased information, trusted guidance to better understand care options and associated costs, and easy access to high-value virtual and in-person care.
“I’m excited to join Transcarent at such a unique moment in our industry – one in which self-insured employers and consumers can finally experience new and different health and care that better aligns financial and clinical outcomes,” said Ms. Peng. “I am looking forward to working closely with the Transcarent management team to scale our financial operations and expedite the company’s aggressive growth efforts and strategic initiatives.”
Transcarent recently closed a Series B investment bringing total funding to $98 million, allowing the company to respond to the demand for rapid expansion of its innovative risk-based offering for self-insured employers. Investors include General Catalyst, 7wireVentures, Merck Global Health Innovation Fund, Kleiner Perkins, Leaps by Bayer, GreatPoint Ventures, Threshold Ventures, Alta Partners, and Jove Equity Partners.
In June 2021, Transcarent closed a $58 million Series B investment led by General Catalyst and 7wireVentures, with participation from Merck Global Health Innovation Fund, Kleiner Perkins, Leaps by Bayer, GreatPoint Ventures, and Threshold Ventures along with existing investors Alta Partners and Jove Equity Partners. This round brings Transcarent’s total funding to $98 million, allowing the company to respond to the demand for rapid expansion of its innovative risk-based offering for self-insured employers.
Transcarent is a new and different health and care experience company putting people back in charge of their health and care. Using a combination of software, technology, Health Guides, and data science, Transcarent empowers consumers with the kind of unbiased information, trusted guidance and access to high-value care that leads to better care, better outcomes, and more cost-effective decisions and allows Members to share in the benefits of their decisions. Transcarent believes that having the right information, tools, and incentives in the decision-making process can positively transform the way we all experience our health and care.