San Francisco, CA - Aug 19, 2025 - Medallion, a leading provider of AI-powered provider network infrastructure, announced today that it has raised $43 million in a new funding round led by Acrew Capital, with participation from Washington Harbour Partners and existing investors, including Sequoia Capital, GV, Spark Capital, and NFDG. This investment brings Medallion’s total funding to $128 million, reinforcing its mission to streamline healthcare operations through intelligent automation.
Medallion’s latest $43 million funding round, announced on August 18, 2025, was led by Acrew Capital, a venture capital firm known for backing transformative technology companies. Additional investors included Washington Harbour Partners and existing backers such as Sequoia Capital, GV (formerly Google Ventures), Spark Capital, and NFDG Ventures. The round underscores strong investor confidence in Medallion’s ability to address critical inefficiencies in healthcare provider management.
Strategic Goals and Use of Funds
Medallion plans to deploy the $43 million to accelerate its growth and enhance its platform’s capabilities. The company has outlined the following strategic objectives for the funds:
- Platform Enhancement: Expand the AI-powered platform to automate thousands of state, provider, and payer-specific workflows, improving efficiency and scalability.
- Go-to-Market Expansion: Invest in sales and marketing teams to strengthen partnerships with health systems, provider groups, and health plans.
- CredAlliance Clearinghouse Growth: Scale the CredAlliance clearinghouse to onboard additional payer participants, enhancing network connectivity.
- Product Development: Accelerate innovation in automation tools for credentialing, enrollment, onboarding, and compliance processes.
These initiatives aim to solidify Medallion’s position as the leading solution for healthcare back-office automation.
Historical Funding and Growth
Medallion has raised a total of $128 million across three funding rounds since its inception. The company has demonstrated significant growth, particularly in revenue and customer base expansion. Below is a summary of its funding history:
| Round | Date | Amount | Lead Investors | Key Achievements Post-Round |
|---|---|---|---|---|
| Series A | June 7, 2021 | $20M | Spark Capital, Optum Ventures | Established platform for licensing, credentialing, and payer enrollment. |
| Series B | Nov 3, 2021 | $30M | Sequoia Capital | Doubled employee count to 150, doubled revenue, and expanded customer base significantly. |
| Series C | June 23, 2022 | $35M | Spark Capital, GV | Further revenue growth (2x), diversified customer base, and strengthened partnerships. |
| New Round | Aug 18, 2025 | $43M | Acrew Capital | Scaling AI platform and CredAlliance clearinghouse, with focus on go-to-market expansion. |
This consistent funding trajectory reflects Medallion’s ability to attract high-profile investors and achieve measurable growth milestones.
Medallion’s Technology
Medallion’s platform leverages artificial intelligence to automate complex healthcare workflows, including provider licensing, credentialing, payer enrollment, and compliance. By serving as a unified system of record for provider data, the platform enables healthcare organizations to verify credentials, maintain in-network status, and connect patients with providers efficiently. The CredAlliance clearinghouse further enhances connectivity by streamlining payer-provider interactions, reducing administrative burdens, and improving operational efficiency.
Industry Impact and Challenges
Medallion addresses a critical pain point in the healthcare industry: the administrative burden of managing provider networks. Manual processes for licensing, credentialing, and enrollment are time-consuming and error-prone, often delaying patient care and increasing costs. Medallion’s AI-driven automation reduces these inefficiencies, enabling healthcare organizations to focus on delivering care rather than navigating bureaucratic hurdles.
However, challenges remain, including regulatory complexities across states and payers, data privacy concerns, and the need for seamless integration with legacy healthcare systems. Medallion’s platform is designed to navigate these challenges by offering scalable, compliant solutions tailored to diverse healthcare environments.
Market Context and Industry Trends
The healthcare technology sector is experiencing rapid growth, driven by increasing demand for digital transformation and automation. According to industry reports, the global healthcare IT market is projected to reach $974.5 billion by 2027, with a focus on solutions that streamline administrative processes. Medallion operates in a competitive landscape alongside companies like Change Healthcare and Andros, but its AI-powered platform and comprehensive approach to provider management set it apart. The rise of value-based care and the need for efficient provider networks further underscore the relevance of Medallion’s solutions.
Stakeholder Perspectives
- Derek Lo, CEO and Founder of Medallion: “This funding validates our vision to transform healthcare operations through intelligent automation. We’re excited to partner with Acrew Capital and our existing investors to scale our platform and deliver unparalleled value to healthcare organizations.”
- Acrew Capital: “Medallion’s innovative approach to provider network infrastructure is reshaping the healthcare industry. We’re proud to lead this round and support their mission to eliminate administrative inefficiencies.”
Stakeholder Insights
Medallion’s investors highlight its potential to disrupt healthcare administration. Spark Capital and GV, which have backed the company since its early rounds, emphasize Medallion’s rapid growth and ability to address a critical market need. New investor Acrew Capital brings expertise in scaling tech-driven companies, signaling confidence in Medallion’s long-term impact. The participation of Washington Harbour Partners and NFDG Ventures further diversifies Medallion’s investor base, providing strategic support for its go-to-market efforts.
About Medallion
Founded by Derek Lo, Medallion is a San Francisco-based company specializing in AI-powered provider network infrastructure. Its platform automates provider licensing, credentialing, payer enrollment, and compliance, serving as a unified system of record for healthcare organizations. Medallion supports a diverse customer base, including health systems, provider groups, and health plans, helping them streamline operations and improve patient access to care. With a team of 150 employees and a customer base that has doubled in recent years, Medallion is a leader in healthcare automation.
Future Outlook
With the new $43 million funding, Medallion is well-positioned to expand its market presence and enhance its platform’s capabilities. The company aims to deepen partnerships with health systems and payers, scale its CredAlliance clearinghouse, and continue innovating in AI-driven automation. As healthcare organizations increasingly prioritize efficiency and compliance, Medallion is poised to become a cornerstone of provider network management, potentially capturing a significant share of the growing healthcare IT market.
Media Contact
For further information, please contact:
Name: Jane Doe
Title: Director of Communications, Medallion
Email: press@medallion.co
