Total amount raised
$85 Millions
Latest funding date
6/1/2022
Location
Medallion has successfully raised significant funding through multiple rounds, with its latest being a Series C. The company offers a comprehensive platform that automates healthcare provider operations, enhancing efficiency and compliance.
Keep reading to delve into the details of Medallion's funding journey and the investors who are backing this innovative healthcare solution.
What Is Medallion?
Medallion, founded in 2020 by Derek Lo, is headquartered in San Francisco, California. The company specializes in providing a comprehensive platform for healthcare provider operations, focusing on automating licensing, credentialing, and payer enrollment processes.
With a team of 251-500 employees, Medallion aims to streamline administrative tasks, saving valuable time and energy for healthcare providers. Their platform is designed to enhance efficiency and compliance, making it a valuable tool in the healthcare industry.
Medallion's innovative approach has garnered significant attention and investment, positioning it as a key player in the healthcare technology sector.
How Much Funding Has Medallion Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the foundational operations and initial growth of the company.
- Series A
- Amount Raised: $20M
- Date: June 2021
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company's operations and enhance its platform.
- Series B
- Amount Raised: $30M
- Date: November 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expansion efforts.
- Series C
- Amount Raised: $35M
- Date: June 2022
- Lead Investors: Google Ventures, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development, expand the go-to-market organization, and deepen strategic partnerships.
Total Amount Raised: $85M. Current Valuation: Not publicly disclosed.
Key Investors
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital investment arm of Alphabet Inc. They focus on funding innovative companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Uber, Nest, Slack
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups across various stages and sectors. They have a strong track record of supporting transformative companies.
- Investment Focus Areas: Consumer, commerce, fintech, software, media
- Notable Investments: Twitter, Oculus, Slack
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm that invests in early and growth-stage companies. They have a history of backing some of the most successful tech companies.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Apple, Google, LinkedIn
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to support the next generation of enterprise software.
- Investment Focus Areas: Enterprise cloud computing
- Notable Investments: Zoom, DocuSign, Twilio
- Optum Ventures
- Details: Optum Ventures is the venture capital arm of Optum, focusing on healthcare technology investments. They aim to drive innovation in health services.
- Investment Focus Areas: Healthcare technology
- Notable Investments: Buoy Health, Mindstrong Health
What's Next for Medallion?
Medallion stands at the cusp of a significant opportunity to revolutionize healthcare administration. By streamlining medical licensing and credentialing processes, the company can save healthcare organizations countless hours of administrative work. This efficiency not only reduces costs but also improves the overall quality of care. The potential for growth is immense, with the healthcare sector increasingly adopting digital solutions to enhance operations.
Future fundraising seems likely as Medallion continues to expand its product offerings and deepen strategic partnerships. The rapid succession of funding rounds indicates strong investor confidence, suggesting that additional capital could be secured to support further development and market expansion. However, the company will need to navigate challenges such as regulatory compliance and competition from other digital health platforms.
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