Candid Health Funding, Investors & Competitors

Candid Health has raised $220M across 5 funding rounds, most recently a $120M Series D in July 2026.

Last Candid Health funding round

$120M

Series D · Jul 2026

Cumulative funding Candid Health raised

$220M

across 5 funding rounds

Key investors in Candid Health

  • 8VC
  • Y Combinator
  • First Round Capital
  • BoxGroup
  • Oak HC/FT
  • Sixth Street
  • Varsha Rao
  • Snowpoint Ventures

Candid Health Overview

About Candid Health

Candid Health is a New York-headquartered revenue cycle management platform for healthcare providers across the United States. The company automates medical billing, claims processing, and coding using machine learning models that predict denials and optimize reimbursements. Serving clinics and hospitals, Candid Health processes thousands of claims monthly, reducing administrative time by integrating with electronic health records and payer systems.


Founded

2019

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Candid Health Funding History

Candid Health has raised a total of $220M across 5 funding rounds.

Candid Health's first fundraising round was a $2M seed round in March 2020. The most recent completed round was a $120M Series D in July 2026.

Candid Health funding rounds

Candid Health funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2026Series DSixth Street (lead); Y Combinator; 8VC; Oak HC/FT$120MCandid Health raised USD 120 million in a Series D led by Sixth Street Growth on July 22, 2026, with participation from Oak HC/FT, 8VC, and Y Combinator. The round tripled Candid’s 2025 valuation and came after a Series C in February 2025; the company’s total funding exceeded USD 219 million after this financing. The funding was positioned to accelerate Candid’s autonomous revenue cycle management platform, with the company reporting 190% year-over-year ARR growth. The transaction continued backing from 8VC, which previously led Candid’s Series B, and from Oak HC/FT, which led the Series C. The company focuses on automating medical billing and insurance reimbursement for healthcare providers. Candid Health is a San Francisco-based healthcare technology company founded by Nick Perry and Doug Proctor. Its software uses AI agents and rules engines to help providers streamline claims processing, reduce administrative costs, and improve payment collection. The company had raised USD 29 million in Series B and USD 52.5 million in Series C before the Series D, and its total capital raised surpassed USD 219 million with the latest round.
Feb 2025Series COak HC/FT (lead)$53MCandid Health is an autonomous revenue cycle management (RCM) platform for healthcare providers that leverages AI and automation to simplify medical billing, reduce collection costs, increase net collections rates, and improve claim accuracy and reimbursement times. The company serves telehealth providers like Allara, Nourish, and Talkiatry, as well as large physician groups, with over 200 healthcare organizations as customers. It competes with legacy systems from Epic and athenahealth, and startups like Apero and Adonis. On February 12, 2025, Candid Health raised $52.5 million in a Series C funding round led by Oak HC/FT, with participation from existing investors including 8VC, First Round Capital, BoxGroup, and Y Combinator. This round, announced six months after a $29 million Series B, brought the company's total funding to $99.5 million. The funds will support expansion of customer relationships with multi-site provider groups nationwide, enhancement of GenAI features, and implementation of advanced machine learning for proactive claim correction to minimize denials. Candid Health grew revenue nearly 250% year-over-year in 2024, demonstrating strong traction amid high administrative costs exceeding $100 billion annually in U.S. healthcare. Oak HC/FT, a venture and growth equity firm focused on fintech and healthcare with over $5.3 billion in assets under management, highlighted Candid's technical expertise and potential impact in the RCM market. CEO Nick Perry emphasized reimagining RCM automation with AI to boost billing performance and scale alongside providers.
Sep 2024Series B8VC (lead); First Round Capital; Y Combinator; BoxGroup$29MCandid Health develops a revenue cycle automation platform for healthcare providers, focusing on simplifying medical billing by automating claim preparation and submission to reduce errors, costs, and delays in payments. The platform addresses inefficiencies in the U.S. healthcare system, where providers spend over $100 billion annually on revenue cycle management amid complex requirements from more than 1,000 payers. Founded by Nick Perry (CEO), Doug Proctor (COO), and Adam Reis, Candid emphasizes submitting claims correctly the first time, achieving touchless claim rates and payer net collection rates above 95 percent for clients. On September 11, 2024, Candid Health raised $29 million in a Series B round led by 8VC, with participation from existing investors First Round Capital, BoxGroup, and Y Combinator, bringing total funding to $47 million at that time. The round supports enhancing platform features, scaling automation, and increasing market penetration among telehealth providers and physician groups. Trusted by over 100 leading organizations initially and expanding to more than 200, Candid has attracted customers like Allara, Nourish, and Talkiatry, while competing with legacy systems from Epic and Athenahealth, as well as startups like Apero and Adonis. The company reported nearly 250% year-over-year revenue growth in 2024, driving investor interest. Six months later, in February 2025, Candid raised a $52.5 million Series C led by Oak HC/FT, increasing total funding to about $99.5 million to broaden customer reach with multi-site provider groups and invest in GenAI enhancements.
Apr 2022Series AFirst Round Capital (lead); Snowpoint Ventures; BoxGroup; 8VC; Varsha Rao$16MCandid Health raised $16 million in its Series A funding round in April 2022, led by First Round Capital, with participation from 8VC, BoxGroup, Snowpoint Ventures, and others including Varsha Rao. The funding aimed to scale the revenue cycle automation platform and expand the team. This followed a $2.3 million seed round in March 2020 led by 8VC to develop the initial platform. Candid Health provides an autonomous revenue cycle management platform for healthcare providers, automating medical billing to handle regulatory changes and claims complexity. The company simplifies billing processes to ensure providers get paid on time at lower costs. Subsequent rounds included a $29 million Series B in June 2023 or September 2024 led by 8VC, bringing total funding to $47 million at that point, and a $52.5 million Series C in February 2025 led by Oak HC/FT, increasing total raised to $99.5 million.
Mar 2020Seed8VC (lead); Y Combinator$2M-

Who has invested in Candid Health?

8 investors have backed Candid Health across its funding rounds, including 8VC, Y Combinator, First Round Capital, BoxGroup, Oak HC/FT and Sixth Street.

Lead investors include Sixth Street, Oak HC/FT, 8VC and First Round Capital.


Candid Health Investors

Investors in Candid Health by funding rounds participated
InvestorHQRoundsRoleFirst check
8VCUnited StatesSan Francisco, CA4LeadMar 2020
Y CombinatorUnited StatesSan Francisco, CA3ParticipantMar 2020
First Round CapitalUnited StatesPhiladelphia, PA2LeadApr 2022
BoxGroupUnited StatesNew York City, NY2ParticipantApr 2022
Oak HC/FTUnited StatesGreenwich, CT2LeadFeb 2025
Snowpoint VenturesUnited StatesWest Palm Beach, FL1ParticipantApr 2022

This data is available for Pro users. Sign up to see all 8 Candid Health investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Candid Health Competitors

Candid Health competitors include listed companies like Tenet Healthcare and Waystar, and private ones like Judi Health, Clari, Cohere Health and Pearl Health.

Public and private companies comparable to Candid Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Tenet HealthcareUnited StatesUnited StatesPublicly listed$21B$4.5B$21B1.6x
WaystarUnited StatesUnited StatesPublicly listed$1.1B$390M$5.1B5.2x
Judi HealthUnited StatesNew York City, NYPrivate--$3.3B-
ClariUnited StatesSan Francisco, CAPrivate--$2.6B-
Cohere HealthUnited StatesBoston, MAPrivate--$750M-
Pearl HealthUnited StatesNew York City, NYPrivate--$733M-

Candid Health Public Comps

Candid Health is still privately-owned, but its public comps include Tenet Healthcare, Waystar, Craneware, CareCloud and MSP Recovery.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tenet Healthcare$21B$4.5B1.7x1.6x8.1x7.5x
Waystar$1.1B$390M5.8x5.2x16.3x12.3x
Craneware$206M$59M2.8x2.7x9.7x8.7x

This data is available for Pro users. Sign up to see all Candid Health competitors and their valuation data.

Start Free Trial

Common questions about Candid Health

When was Candid Health founded?Candid Health was founded in 2019.
Where is Candid Health headquartered?Candid Health is headquartered in San Francisco, CA, United States.
Is Candid Health publicly listed?No, Candid Health is a private, VC-backed company.
How much funding has Candid Health raised?Candid Health has raised $220M across 5 funding rounds.
What was Candid Health's last funding round?Candid Health's last funding round was a $120M Series D in July 2026, led by Sixth Street.
Who are Candid Health's investors?Candid Health's investors include 8VC, Y Combinator, First Round Capital, BoxGroup, Oak HC/FT, Snowpoint Ventures, Varsha Rao and Sixth Street.
Which companies are comparable to Candid Health?Companies comparable to Candid Health include Tenet Healthcare, Waystar, Judi Health, Clari, Cohere Health and Pearl Health.

See companies similar to Candid Health

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial