Candid Health, a revenue cycle management platform, announced Wednesday that it raised $120 million in Series D funding
San Francisco-based Candid Health serves medical groups, managed service organizations and digital health companies. Its AI-powered system automates medical billing and health insurance claims to help providers get paid more accurately and quickly. It supports more than 200 healthcare organizations, including Talkiatry, Tia, Luna, Cortica and Nourish
“Candid powers the financial infrastructure for many of the most important and innovative healthcare organizations in the United States,” said Nick Perry, Candid Health co-founder and CEO, in a statement. “The legacy players haven’t kept pace, and the companies lightly sprinkling AI on top of them have yet to deliver. We’ve spent the past seven years rebuilding the core infrastructure of this problem space from the ground up.”
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The Series D round was led by Sixth Street Growth, with participation from Oak HC/FT, 8VC and Y Combinator. This comes after a $52.5 million Series C raise in February 2025 led by Oak HC/FT. In total, Candid Health has raised about $219 million
According to Sixth Street Growth, Candid Health is filling an unmet need in the revenue cycle management space
“Candid is solving major structural challenges in healthcare revenue cycle management with modern, AI-powered infrastructure that drives meaningful efficiency across the system, and we believe Candid’s platform is well-positioned to become the foundational infrastructure for the future of healthcare RCM over the long term. In our diligence, we heard exceptional feedback from customers about the Candid team’s deep focus on delivering results, and we’re excited to partner with them for their next chapter of growth,” Alex Katz, managing director at Sixth Street Growth, told MedCity News.
The funding will support continued investment in automation, accelerate development of agentic RCM solutions and grow its team, Candid Health said
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The announcement comes at a time when about $280 billion is spent annually on healthcare revenue cycle management. Candid Health hopes to bring down these costs, the company said
“American healthcare is too expensive, and it’s untenable. We want to reduce the amount of back-end inefficiency and waste in American healthcare. We want to empower providers to spend more time focusing on patient care,” Doug Proctor, co-founder and COO of Candid Health, told MedCity News
Candid Health isn’t the only AI RCM company out there. Others include AKASA, RapidClaims and Nym Health
