Medallion Valuation, Funding & Investors

Medallion is valued at $350M as of June 2022.

Last Medallion valuation

$350M

Series C · Jun 2022

Last Medallion funding round

$43M

Series C · Aug 2025

Cumulative funding Medallion raised

$128M

across 4 funding rounds

Key investors in Medallion

  • Spark Capital
  • Sequoia Capital
  • Optum Ventures
  • GV
  • BoxGroup
  • Daniel Gross

Medallion Overview

About Medallion

Medallion is a healthcare technology provider that automates provider credentialing, enrollment, privileging, licensing, monitoring, and data management using AI-driven workflows. The platform handles primary source verification, payer enrollments with delegated processes, license renewals, sanctions monitoring, and shared credentialing through the CredAlliance network while adapting to payer rules and state regulations. Headquartered in Nashville, Tennessee, Medallion serves health plans, hospitals, and provider groups across the United States to minimize manual tasks and compliance risks.


Founded

2020

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$350M (Jun 2022)

Medallion Valuation

Medallion is currently valued at $350M, based on its Series C in June 2022.

The $35M round was led by GV and Spark Capital, with participation from Salesforce Ventures, BoxGroup, Sequoia Capital and Optum Ventures.

Medallion's valuation has grown 8.1x from $43M at its Series A in June 2021 to $350M in June 2022, across 3 priced rounds.

Medallion valuation by funding round

Medallion valuation by funding round
DateStageValuation
Jun 2022Series C$350M
Nov 2021Series B$200M
Jun 2021Series A$43M

Medallion Funding History

Medallion has raised a total of $128M across 4 funding rounds.

Medallion's first fundraising round was a $20M Series A in June 2021. The most recent completed round was a $43M Series C in August 2025.

Medallion funding rounds

Medallion funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2025Series CAcrew Capital (lead); GV; Spark Capital; Washington Harbour Partners; NFDG Ventures; Sequoia Capital$43M-Medallion is a San Francisco-based healthcare infrastructure company providing an AI-powered platform that automates back-office operations such as credentialing, enrollment, onboarding, and compliance for healthcare organizations and health plans. The platform replaces manual workflows with intelligent automation, supporting access to care for an estimated 240 million patients across the U.S., and has helped organizations speed up operations by 60% on average while saving over 500,000 administrative hours for customers including Tampa General Hospital, MedExpress, and Oak Street Health. In August 2025, Medallion raised $43 million in a growth round (noted as Series C in some reports), led by Acrew Capital with participation from Washington Harbour Partners, Sequoia Capital, GV, Spark Capital, NFDG Ventures, and others, bringing total funding to $130 million. The funds will expand the AI automation platform, scale CredAlliance—a national credentialing clearinghouse to eliminate redundant verifications—and grow go-to-market teams and partnerships. The company reported 106% growth in annual recurring revenue over the prior year, launched products like Privileging, Integration Engine, and CAQH Management, and supports thousands of unique workflows, including AI phone agents for provider onboarding over 40 times faster than traditional processes.
Jun 2022Series CGV (lead); Spark Capital (lead); Salesforce Ventures; BoxGroup; Sequoia Capital; Optum Ventures$35M$350M-
Nov 2021Series BSequoia Capital (lead); Daniel Gross; Mario Schlosser; Spark Capital; Roivant Sciences; Will Gaybrick; Iyah Romm; Optum Ventures$30M$200M-
Jun 2021Series ASpark Capital (lead); Daniel Gross; Susa Ventures; BoxGroup; Zachary Sims; Tom X Lee; Nat Friedman; Peter Reinhardt; Vivek Ramaswamy; Joe Montana; Darian Shirazi; Optum Ventures$20M$43MMedallion is a healthcare technology company providing an AI-powered platform for provider network infrastructure, focusing on automating back-office operations such as credentialing, enrollment, onboarding, and compliance for healthcare organizations and health plans. The company, headquartered in San Francisco, was founded around 2020 and has raised funding across multiple rounds to scale its operations. The specified Series A funding in June 2021, dated around 06/05/2021, involved multiple tranches including Series A-1 ($13.56M), A-3 ($525K), A-4 ($120K), A-5 ($1.15M), and A-6 ($265K), with investors exactly matching BoxGroup, Daniel Gross, Elad Gil, Joe Montana, Nat Friedman, Optum Ventures, Peter Reinhardt, Spark Capital (lead), Susa Ventures, Tom X Lee (Tom Lee), Vivek Ramaswamy, and Zachary Sims (Zach Sims). This round carried a post-money valuation of $43.07 million, with price per share ranging from $0.04 to $0.10 across tranches. Spark Capital led the round, supporting Medallion's mission to streamline manual workflows in healthcare administration. The company has grown to serve over 300 healthcare organizations and launched CredAlliance, a shared credentialing infrastructure. Medallion competes in healthcare AI and provider infrastructure, emphasizing automation to reduce operational waste.

Who has invested in Medallion?

22 investors have backed Medallion across its funding rounds, including Spark Capital, Sequoia Capital, Optum Ventures, GV, BoxGroup and Daniel Gross.

Lead investors include Acrew Capital, GV, Spark Capital and Sequoia Capital.


Medallion Investors

Investors in Medallion by funding rounds participated
InvestorHQRoundsRoleFirst check
Spark CapitalUnited StatesSan Francisco, CA4LeadJun 2021
Sequoia CapitalUnited StatesSan Francisco, CA3LeadNov 2021
Optum VenturesUnited StatesBoston, MA3ParticipantJun 2021
Daniel GrossUnited StatesSan Francisco, CA2ParticipantJun 2021
GVUnited StatesSan Francisco, CA2LeadJun 2022
BoxGroupUnited StatesNew York City, NY2ParticipantJun 2021
Acrew CapitalUnited StatesSan Francisco, CA1LeadAug 2025
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantJun 2022
Mario SchlosserUnited StatesNew York City, NY1ParticipantNov 2021
Susa VenturesUnited StatesSan Francisco, CA1ParticipantJun 2021
Washington Harbour PartnersUnited StatesUnited States1ParticipantAug 2025
NFDG VenturesUnited StatesSan Francisco, CA1ParticipantAug 2025
Zachary SimsUnited StatesNew York City, NY1ParticipantJun 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Medallion

Medallion has acquired 1 company to date.

Last acquisition by Medallion was on September 15th 2026. Medallion acquired andros for undisclosed valuation.


Latest Acquisitions by Medallion

andros
Description
andros is a Brentwood-based provider of NCQA-certified credentialing verification and healthcare provider network management solutions. The company combines software platforms with managed services to support health plans, hospitals, and payers in compliance, enrollment, and directory management. Its network development division leverages data analytics to construct cost-effective provider networks for regional and national plans across the United States.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date15 Sep 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Medallion Competitors

Medallion competitors include listed companies like Claritev and Software Service, and private ones like Saviynt, Redox, Qventus and Stellar Health.

Public and private companies comparable to Medallion
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SaviyntUnited StatesLos Angeles, CAPrivate$300M-$700M2.3x
RedoxUnited StatesMadison, WIPrivate--$311M-
QventusUnited StatesSan Francisco, CAPrivate--$400M-
Stellar HealthUnited StatesNew York City, NYPrivate--$400M-
ClaritevUnited StatesUnited StatesPublicly listed$965M$466M$538M5.2x
Software ServiceJapanJapanPublicly listed$272M$60M$348M0.8x

Medallion Public Comps

Medallion is still privately-owned, but its public comps include Beijing Sunwayworld, Software Service, Vitalhub, Optima Health, Simulations Plus, Echo IQ, AdvancedAdvT, Nanjing Medlander Medical, Artrya and Value HR.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Beijing Sunwayworld$57M$3M5.6x-100.1x-
Software Service$272M$60M0.9x0.8x4.1x5.9x
Vitalhub$78M$10M3.2x2.7x23.5x10.7x
Optima Health$162M$20M3.1x2.3x24.4x15.4x
Simulations Plus$79M($62M)4.1x3.9x(5.2x)13.9x
Echo IQ$65K($13M)4656.6x994.2x(23.1x)(26.6x)
AdvancedAdvT$72M$13M2.5x2.4x14.1x8.9x
Nanjing Medlander Medical$64M$20M4.9x-15.8x-

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Common questions about Medallion

When was Medallion founded?Medallion was founded in 2020.
Where is Medallion headquartered?Medallion is headquartered in San Francisco, CA, United States.
Is Medallion publicly listed?No, Medallion is a private, VC-backed company.
What is Medallion's valuation?Medallion was last valued at $350M in its Series C in June 2022.
How much funding has Medallion raised?Medallion has raised $128M across 4 funding rounds.
What was Medallion's last funding round?Medallion's last funding round was a $43M Series C in August 2025, led by Acrew Capital.
Who are Medallion's investors?Medallion's investors include Spark Capital, Sequoia Capital, Optum Ventures, Daniel Gross, GV, BoxGroup, Acrew Capital, Salesforce Ventures, Mario Schlosser, Susa Ventures and 12 others.
Which companies are comparable to Medallion?Companies comparable to Medallion include Saviynt, Redox, Qventus, Stellar Health, Claritev and Software Service.
How many companies has Medallion acquired?Medallion has acquired 1 company, including andros.

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