Medallion, a San Francisco, CA-based supplier administration platform, raised $35m in Sequence C funding, elevating its whole funding to $85M.
The spherical was co-led by Spark Capital and new investor GV (previously Google Ventures) with participation from new investor Salesforce Ventures and current buyers, together with Sequoia Capital, Optum Ventures, BoxGroup, and Elad Gil.
The corporate intends to make use of the funds to speed up product growth, develop its go-to-market group, and deepen strategic partnerships throughout the platform.
This funding comes on the heels of outstanding progress within the six months following its Sequence B spherical, together with practically doubling its worker depend to 150, rising its income by 2x, and diversifying its buyer base by doubling the variety of well being plans, suppliers and well being programs.
Led by Derek Lo, founder and CEO, Medallion empowers healthcare organizations of all sizes from small digital care corporations to massive insurance coverage payors and well being programs to simplify, automate, and expedite their supplier licensing and credentialing workflows. The answer allows healthcare corporations to totally offload their clinician operations—state license administration, payor enrollment, credentialing, and extra—in a single administration system. It’s estimated that the platform has saved over 250,000 hours of administrative work for main healthcare organizations like Carbon Well being, hims, Tia, Headspace Well being, Oak Avenue Well being, and tons of extra.
This funding comes six months after Medallion’s Sequence B and twelve months after its Sequence A. Along with doubling its workers, rising its income by 2x, and diversifying its buyer base, the corporate has expanded its management crew with key hires, together with Eric Johnston as Head of Finance, Christine Chiu as Head of Operations, Lauren Mitri as Vice President of Advertising, and Adrianna De Battista as Head of Expertise.
FinSMEs
23/06/2022
