Health benefits from the future
GP Team Members
Phin Barnes
INVESTMENTS
Anthony Kline
INVESTMENTS
David Watson
ENGINEERING
Ted Mao
ENGINEERING
Marcus Gosling
DESIGN
Milestones
Founded 2021 Partnered 2024
Founders
Chris Ellis, CEO Adam Stevenson, President
Thatch is building a modern health benefits platform around Individual Coverage Health Reimbursement Arrangements, or ICHRAs: a regulatory structure that lets employers set a budget while employees choose the health coverage that works best for them. As more companies move from one-size-fits-all group plans to individualized benefits, Thatch is building the infrastructure to lower costs and improve care.
Supplying engineering resources, stat
While ICHRA gives employers a more flexible way to offer health benefits, it adds operational complexity across plan selection, integrations, payroll, reimbursements, compliance, payments, renewals, and support. Thatch handles the hardest parts of that stack so employers can offer individualized benefits without adding operational burden.
TheGP met Thatch at a mission-critical moment. Healthcare benefits are highly seasonal—open enrollment can drive more sign-ups in three months than the other nine months combined. Thatch was heading into that critical window, and the coming months would stress-test every layer of its infrastructure at once.
TheGP embedded senior engineers alongside Thatch’s team for a six-month engagement, focused on critical integrations, automations and customer support AI. The work helped Thatch prepare for open enrollment while continuing to build the infrastructure that would support future scale.
Engineering
Built browser-based automation for insurance enrollments, payments, and other operational tasks
Built a partner platform with APIs and a demo app, enabling launches with Allstate and QuickBooks
Built Thatch’s internal AI agent, Thatchy
Built employee engagement campaigns
Advised Thatch’s Head of Engineering on current and future organization design
Support across the stack
Beyond engineering, TheGP embedded across product design and talent to help Thatch continue to scale their fast-growing product into a more repeatable operating system.
Product Design
Designed flows for renewals, employer onboarding, payroll schedules, payroll deductions, and employee experiences
Helped define the recruiting and interviewing process for design hiring
Talent
Built recruiting processes and frameworks
Managed 1,000+ applicants across engineering, design, product, GTM, and customer success
Supported building scalable hiring infrastructure
Earning a place on the cap table
TheGP’s hands-on work gave Thatch a chance to evaluate TheGP as more than a capital partner. In a competitive round, Thatch cited TheGP’s hands-on support at a critical moment as a key reason for bringing us into the Series A.
Capital
Participated in Thatch’s Series A and Series B
Led Thatch’s Series C after continuing to work together
Impact
“We chose Phin and TheGP because they're genuine builders, not just capital. Phin met us pre-idea, pre-revenue, and counseled us on building this business from day one. Since then, he's embedded the right talent at exactly the right moments. A partner who both understands your business and genuinely contributes to it is a huge privilege.” - Chris Ellis, co-founder and CEO
Highlights
$8O+ million in funding across multiple rounds
Recruited top talent from Stripe, Ramp, Rippling, and Shopify