About TransEngen
TransEngen is a Healthcare company based in Shelton (United States) founded in 2006, and was acquired by VirMedica in February 2015. It operates as a payment processing solutions for the healthcare providers. It operates in the Healthcare and Financial Services sectors. TransEngen has raised $10.5 million across 5 funding rounds from investors including VirMedica, Lemhi Ventures and Carlson Capital. The company has 13 employees. Its focus areas include HealthTech, Healthcare IT, Provider and Administrative Solutions. Its competitors include Greenphire, Zelis Healthcare, Cedar, VisitPay and PayZen and 4 more; 6 of its 9 listed competitors have raised funding.
Company details
TransEngen was founded in 2006 and is based in Shelton, United States, where healthcare payment processing solutions are developed for providers. The company, previously known as TriHelix, integrates healthcare and financial transactions through its TransEngen engine. Its core platform, TIER4, is utilized for automating benefits verification in specialty products, facilitating communication between patients and providers, and delivering reporting to manufacturers. Acquisition by Virmedica occurred in February 2015.
- Headquarters Shelton, United States
- Employees 13
- SectorsHealthcareFinancial Services
- Website transengen.com
- Social LinkedIn X Facebook
- Acquired by VirMedica (Feb 2015)
Funding Insights of TransEngen
TransEngen has successfully raised a total of $10.5M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $2.5 million completed in August 2010. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $10.5M
- Total Rounds 5
- Last Round Series C — $2.5M
- First Round $1M
(Jan 2007)
- Investors Count 2
All 5 funding rounds of TransEngen with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2010 | $2.5M | Series C | – | Carlson Capital | |
| Jul 2009 | $2M | Series C | – | – | – |
| Mar 2008 | $4M | Series C | – | – | |
| Jun 2007 | $1M | Seed | – | – | – |
| Jan 2007 | $1M | Seed | – | – | – |
3 investors in total: 3 institutional.
Investors in TransEngen
TransEngen has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include VirMedica, Lemhi Ventures and Carlson Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments are focused on healthcare system transformation. | 2006 | lemhiventures.com | - | |
Carlson Capital is engaged in alternative asset management services. | 1993 | carlsoncapital.com | Dallas, United States | |
Technology solutions for improving patient access to specialty pharmacy prodcuts | 2013 | virmedica.com | Philadelphia, United States |
Investor details for TransEngen
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Timeline of TransEngen
4 dated milestones of TransEngen across 9 years, from founding to its latest funding, stage changes and deals.
- Founded TransEngen is founded.
- Funding First funding round of $1.0M.
- Funding Latest funding round, Series C, of $2.5M.
- Exit Acquired by VirMedica.
Competitors of TransEngen
TransEngen has 9 listed competitors in our database, 6 of them funded. They include Greenphire, Zelis Healthcare, Cedar, VisitPay and PayZen, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| greenphire.com | 2007 | King Of Prussia, United States | $5.81M | 259 | Clinical payment technology for patient transactions in research is provided. | |
| zelis.com | 1995 | Boston, United States | – | 2,336 | Digital solutions to modernize the healthcare financial experience for payers, providers, and members | |
| cedar.com | 2016 | New York, United States | $351M | – | Cloud-based payment solutions are provided for healthcare billing and analytics. | |
| visitpay.com | 2010 | Boise, United States | $53.62M | 101 | Cloud-based patient revenue management is delivered to healthcare providers. | |
| payzen.com | 2011 | San Francisco, United States | $72M | – | AI medical billing software for healthcare professionals and organizations | |
| instamed.com | 2004 | Philadelphia, United States | $123.24M | 275 | Healthcare bill payments are facilitated for providers and patients. | |
| alegeus.com | 1995 | Waltham, United States | – | 696 | Healthcare benefits are administered via tax-advantaged account platforms. | |
| withcherry.com | 2017 | San Francisco, United States | – | – | Sales payment solutions are provided for businesses and customers. | |
| alaffiahealth.com | 2020 | New York, United States | $15.96M | – | AI platform for health plans, automating clinical claims management workflows |
Detailed competitors of TransEngen
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Top companies in Clinical IT & Data Platforms
10 companies that operate in the same segment as TransEngen (Clinical IT & Data Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of fitness memberships encompassing group classes, gyms, and at-home workouts | 2016 | Bengaluru, Karnataka, India | USD 713.57 M | – | – | |
Employee health benefits are facilitated via a cloud-based platform. | 2007 | Plymouth Meeting, Pennsylvania, United States | USD 228.3 M | – | – | |
Healthcare appointments are booked online via Zocdoc's platform. | 2007 | New York, New York, United States | USD 425.97 M | USD 4.66 M | 233 | |
Virtual physical therapy and digital pain care solutions are provided. | 2015 | San Francisco, California, United States | USD 854.44 M | – | – | |
Tech-enabled mental health solutions for employers are provided. | 2016 | New York, New York, United States | USD 508.73 M | – | – | |
App-based health insurance is offered to individuals and businesses. | 2016 | Paris, France | USD 863.12 M | – | – | |
Virtual care programs for managing chronic diseases are provided. | 2011 | San Francisco, California, United States | USD 450.12 M | USD 260.21 M | – | |
AI-driven EMR and practice management software is delivered for clinics. | 2010 | Boca Raton, Florida, United States | USD 329.17 M | – | – | |
Cloud-based administrative tools for healthcare providers are offered. | 1997 | Watertown, United States | USD 40 M | – | – | |
Membership-based primary care platform is offered for employees and consumers. | 2007 | San Francisco, California, United States | USD 402.56 M | – | – |
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Frequently Asked Questions about TransEngen
TransEngen was founded in 2006 and raised its 1st funding round 1 year after it was founded.
TransEngen is headquartered in Shelton, United States. It is registered at Shelton, Washington, United States.
TransEngen is a funded company, having raised a total of $10.5M across 5 funding rounds to date. The company's 1st funding round was a Seed of $1M, raised on Jan 2007.
TransEngen has 13 employees.
TransEngen was founded in 2006 and is based in Shelton, United States, where healthcare payment processing solutions are developed for providers. The company, previously known as TriHelix, integrates healthcare and financial transactions through its TransEngen engine. Its core platform, TIER4, is utilized for automating benefits verification in specialty products, facilitating communication between patients and providers, and delivering reporting to manufacturers. Acquisition by Virmedica occurred in February 2015.
TransEngen's top competitors include Greenphire, Cedar and PayZen.
TransEngen has 3 investors. Key investors include VirMedica, Lemhi Ventures, and Carlson Capital.
Yes. TransEngen was acquired by VirMedica in February 2015.