Candid Health raises $120 million to take on America’s $280 billion medical billing mess
Candid Health, a healthcare infrastructure startup, raised $120 million in Series D funding led by Sixth Street Growth, with participation from Oak HC/FT, 8VC, and Y Combinator. The round triples the company's valuation in 18 months as annual recurring revenue grew 190% year-over-year. Candid replaces outdated medical billing software with AI agents and a rules engine trained on over 1,000 insurers' submission requirements, reducing claim rejections. Co-founders Nick Perry and Doug Proctor, former Palantir employees, have grown the business almost entirely through word of mouth, with net revenue retention near 200%. Customers like Talkiatry and Nourish report significant reductions in manual billing work and high claim collection rates. The company has raised over $219 million total and aims to shrink the $280 billion medical billing industry by eliminating manual and offshore labor.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection