Tennr Raises $101M Series C to Improve Patient Referrals Process

NEW YORK—Tennr, a health tech startup company, announced a $101 million Series C led by IVP, with participation from new and existing investors including Andreessen Horowitz, Lightspeed, GV, ICONIQ, Foundation Capital and Frank Slootman. The company has helped process millions of patients across hundreds of providers and has more than tripled its revenue since its Series B two quarters ago.

Tennr said its mission is to convert more patients and increase visibility across the entire referral process. Now, the company is launching Tennr Network—a new coordination layer that connects referring providers, receiving providers and patients, giving each party real-time visibility into the referral status.

Referring providers can see the current status of every patient they’ve sent out, eliminating phone tag and guesswork. Receiving providers can track the status of every referral, see which need more documentation and identify which sources are driving the most conversions. Patients can see when their referral was accepted, when it’s scheduled and what to expect to pay. 

“Patients really shouldn’t vanish into a work queue,” said Tennr co-founder and CEO Trey Holterman. “There’s so much opportunity to build a delightful patient experience, but it’s always failed because we expect so much behavior change from providers who are completely overwhelmed. We flipped that thinking and are now creating visibility for the patient flow without changing how people work. Businesses love it because they’re converting far more patients and providing a 10x experience for patients and referral sources.”

“Tennr has revolutionized our fax-to-intake workflow, eliminating hundreds of hours of manual effort each day, removing human errors, and accelerating the creation of patient intakes,” said Ty Barnett, CIO at Norco Inc. “We’ve redefined operational agility in our revenue cycle—it’s not just about moving faster—it’s about serving health care practitioners and patients more effectively, in alignment with our mission of serving you better.”

Tennr was founded by engineers Holterman, Diego Baugh and Tyler Johnson, who met at Stanford. Holterman learned about the ‘black hole’ of the referral maze from his mom, who while working in family medicine, showed him how chaotic and slow the handoff between providers could be. Diego then experienced it personally as a patient when six-week delays between gastrointestinal (GI) appointments sent him to the ER in college.

“Forcing health care providers to change the way they refer their patients doesn’t work,” said Zeya Yang, partner at IVP. “Many have tried. Tennr is the first company that works the way health care already does: no EMR rip-outs, no need to retrain providers, no changes to how documentation is shared. By combining deep customer empathy for specialist workflows with technical excellence, Tennr builds software that actually gets used because it works with the system, not against it.”