Lantern Care

Lantern Care

Specialty care platform with direct contracting

Overview

Lantern Care is a specialty care platform that helps self-funded employer health plans access high-quality, cost-effective care for complex needs. It builds a Network of Excellence by directly contracting top specialists and facilities, offering planned surgeries, cancer care, and infusion therapies with bundled payments. A dedicated care team guides members through diagnosis, scheduling, and follow-up, emphasizing local, accessible care that boosts utilization. Its goal is to reduce employer healthcare costs while improving patient outcomes by expanding access to specialty care through direct contracting and care navigation.

About Lantern Care

Simplify's Rating
Why Lantern Care is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Enterprise Software

Healthcare

Company Size

501-1,000

Company Stage

Growth Equity (Venture Capital)

Total Funding

$31M

Headquarters

Dallas, Texas

Founded

2010

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Simplify's Take

What believers are saying

  • Lantern raised $30 million in March 2026, extending runway for sales and product expansion.
  • February 2026 cancer expansion added NCI reviews, clinical trial access, and nurse navigation.
  • June 2026 Marathon pilot drove 47% more surgeries completed or avoided and 53% savings.

What critics are saying

  • Included Health, Quantum Health, and Carrum Health pressure Lantern's employer channel in 2026.
  • Specialist Management Solutions joined Lantern in February 2026, signaling acquisition-dependent growth and integration risk.
  • Employer savings claims face scrutiny if cancer and infusion outcomes disappoint by 2027 renewals.

What makes Lantern Care unique

  • Lantern's 2026 PSO made it the only independent center of excellence with AHRQ listing.
  • March 2026 Morgan Health backed Lantern's direct-contracting Network of Excellence and local-access model.
  • June 2026 Marathon partnership links primary care referrals directly into Lantern specialty navigation.

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Funding

Total Funding

$31M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Growth Equity VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Short & Long Term Disability

Life Insurance

Paid Vacation

Paid Parental Leave

401(k) Company Match

Hybrid Work Options

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

1%

2 year growth

3%
Associated Press
Jun 18th, 2026
Marathon Health and Lantern partner to cut specialty care costs with integrated model

Marathon Health and Lantern have partnered to integrate primary and specialty care for employers and labour organisations, aiming to reduce specialty care costs. The collaboration connects Marathon's primary care model with Lantern's specialty care platform, allowing Marathon clients to purchase Lantern services directly. A pilot programme focusing on orthopaedic and surgical care showed a 37%-100% increase in Lantern referrals, a 47% rise in completed or avoided surgeries, and 53% average savings compared to network rates. Marathon providers will identify patients needing specialists and initiate referrals, whilst Lantern Care Advocates guide members through specialist selection and coordination. The integrated solution launches this year for shared customers, initially targeting orthopaedic surgery, a major employer cost driver.

PR Newswire
Mar 19th, 2026
Lantern Secures $30M Strategic Investment from Morgan Health and Echo Health Ventures to Help Employers Reduce Costs and Improve Outcomes for Specialty Care

/PRNewswire/ -- Lantern, the leading Specialty Care Platform serving 12 million people across the U.S., today announced a $30 million investment led by Morgan...

Coverager
Mar 20th, 2024
Healthjoy Selects Edh As Surgery Network Partner

Care navigation platform. HealthJoy <i class="fa fa-info-circle company-popover" data-content="h3HealthJoy/h3. div

FinSMEs
Dec 19th, 2023
Employer Direct Healthcare Raises $92M Investment from Insight Partners, At $1 Billion Valuation

Employer Direct Healthcare raises $92M investment from Insight Partners, at $1 Billion valuation.

PR Newswire
Dec 19th, 2023
Employer Direct Healthcare (EDH) Announces $92 Million Investment from Insight Partners, $1 Billion Valuation

/PRNewswire/ -- Employer Direct Healthcare (EDH), a leading specialty healthcare network solution, today announced a $92 million secondary investment from...

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