We just raised $43M to automate the healthcare back-office
Medallion has raised $43 million in new funding.
The round was led by Acrew Capital, with participation from Washington Harbour Partners, and insiders Sequoia Capital, GV, Spark Capital, NFDG, and others.
This new investment brings our total funding to $130 million and fuels the expansion of Medallion’s intelligent infrastructure, automating credentialing and enrollment at scale.
We’re grateful to our investors for sharing this vision and to our customers for inspiring it. The hard problems are the ones worth solving, and this is just the beginning.
Healthcare’s back-office is broken. We’re fixing it
When we started Medallion, the problem was obvious: healthcare operations leaders and providers were spending more time buried in administrative red tape than delivering care.
Provider credentialing, enrollment, and license management processes were manual and transparently soul-sucking. They slowed down hiring, delayed revenue and ultimately compromised patient access.
So we built a platform to change that — one system to automate the most painful parts of provider operations, one infrastructure layer to unify the back-office, and one mission: remove the bottlenecks between great providers and the patients who need them.
Powering the CredAlliance™ mission
At the heart of this mission is the CredAlliance™ — a collective of forward-thinking health plans, systems, and provider groups choosing to transform network management together.
We believe the future of credentialing is transparent, collaborative, and built on the idea that every new plan added strengthens the whole. By working as one, the Alliance unlocks:
- Reduced operational expenses through shared efficiencies.
- Improved provider NPS by streamlining onboarding and maintenance.
- Significant efficiency gains across network operations.
- Better turnaround times and quality in credentialing.
Every member that joins CredAlliance™ moves the industry forward, creating a rising tide that benefits providers, payers, and, most importantly, patients.
The momentum is real
Last year was our biggest yet.
- We more than doubled our enterprise ARR (+106%).
- We launched three major new products: Privileging, Integration Engine and CAQH Management.
- We helped healthcare organizations speed up their ops by 60% on average.
- We expanded our automation engine to support thousands of unique workflows.
And we helped facilitate care for over 240 million patients across the country.
Medallion is re-architecting the infrastructure that healthcare runs on
This funding lets us go even faster.
We’re accelerating our AI development, expanding our go-to-market teams, and doubling down on strategic partnerships with health systems, provider groups, and payers.
We’re building the infrastructure that lets healthcare organizations operate effortlessly regardless of which state they’re in, which payer they use, or how complex their network is. And through the CredAlliance™, we’re ensuring those gains aren’t siloed, but shared.
Doing it all for our customers
Every health system, provider group, or payer we work with is feeling the pressure from shrinking margins, tightening regulations, and talent burnout.
With this new investment, we’re doubling down on the tools that help them:
- Grow sustainably and scale efficiently.
- Reduce compliance risk with real-time monitoring.
- Empower ops teams to do more with less using automation and AI.
- Improve provider satisfaction — and ultimately patient access — by eliminating administrative drag.
We’re not just building software.
We’re building a community of organizations committed to rethinking provider network management. And we’re doing it together.
It couldn’t come at a more apt time. Healthcare is at an inflection point. Costs are rising, regulations are tightening, and burnout is surging.
But behind every statistic is an overworked provider, a stressed-out administrative team, or a patient waiting too long to get the care they need. And in almost every case, the real issue isn’t clinical. It’s operational.
Through Medallion and CredAlliance™, we believe there’s a better way. Every new partner brings us closer to a transparent, efficient, and collaborative healthcare system. This funding is just the next step toward that vision.
I had the chance to talk with Forbes about this fundraising news, including what’s next, and why we’re more energized than ever. Read it all here.
P.S. We are also hiring across all roles.
– Derek Lo
Founder & CEO, Medallion
