Total amount raised
$75 Millions
Latest funding date
Location
Stedi has successfully raised $92 million over multiple funding rounds, with significant contributions from investors like Stripe and Addition. The company has been backed by a total of 17 investors, showcasing strong support from the investment community.
Keep reading to explore the intricacies of Stedi's fundraising journey and the investors backing this innovative platform.
What Is Stedi?
Stedi, founded in 2017 by David Kanter and Zack Kanter, is an API-first healthcare clearinghouse based in New York, New York. The company operates in the B2B, healthcare, and information technology industries.
With a team of 51-100 employees, Stedi focuses on automating healthcare transactions through modern APIs, facilitating real-time eligibility checks and claims processing. The company emphasizes high availability, security, and compliance with industry standards like HIPAA and SOC 2.
How Much Funding Has Stedi Raised?
- Series B
- Amount Raised: $50,000,000
- Date: August 2020
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Stedi's network of digital mailboxes for business transactions and expand its operations.
- Venture Round
- Amount Raised: $21,300,000
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's transaction recording software and support business growth.
- Seed Round
- Amount Raised: $2,700,000
- Date: July 2017
- Lead Investors: First Round Capital, Susa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Stedi's API-first healthcare clearinghouse platform.
- Angel Round
- Amount Raised: $1,000,000
- Date: January 2017
- Lead Investors: VTF Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial funding for the company's early-stage operations and product development.
Total Amount Raised: $75,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- First Round Capital
- Details: First Round Capital is a venture capital firm that invests in seed-stage companies. They are known for their early investments in high-growth startups.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: Uber, Square, Roblox
- Susa Ventures
- Details: Susa Ventures is a venture capital firm focused on data-centric startups. They aim to support companies that leverage data to create significant value.
- Investment Focus Areas: Data, Enterprise, Consumer
- Notable Investments: Robinhood, Flexport, Andela
- VTF Capital
- Details: VTF Capital is a venture capital firm investing in early-stage companies. They have a strong focus on innovative retail and e-commerce businesses.
- Investment Focus Areas: Retail, E-commerce, Consumer
- Notable Investments: Warby Parker, Bonobos, Casper
What's Next for Stedi?
Stedi's future looks promising as it continues to build a robust network of digital mailboxes for business transactions. This opportunity is significant, given the increasing digitalization of business processes. The company's recent $50.1 million funding round highlights its potential to attract further investment, positioning it well for future growth.
However, Stedi may face challenges such as competition from other transaction recording solutions and the need to continuously innovate. Despite these hurdles, the company's strategic move to Denver could provide access to a larger business ecosystem, enhancing its growth prospects and potential for future fundraising.
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