Arbiter has emerged from stealth with $52 million in funding and a plan to overhaul the fractured U.S. healthcare system by creating a unified AI-powered care orchestration platform that connects payers, providers, and patients. The round was led by TriEdge Investments and MFO Ventures, with participation from WindRose Health Investors and other strategic operators, valuing Arbiter at $400 million.
The company enters the market with a clear focus on eliminating the nearly $1 trillion in annual waste caused by fragmented systems and disconnected stakeholders. Today’s care environment often forces providers, payers, and patients to work in isolation, leading to delays, redundant processes, and missed care opportunities. Arbiter aims to change this dynamic by collapsing more than $100 billion in point solutions into a single coordinated infrastructure designed for real-time collaboration.
Arbiter’s AI-driven platform unifies data, technology, and decision-making across healthcare entities, enabling faster care progression and improved patient outcomes. Its first primary application, real-time site-of-care optimization, is already in deployment through partnerships with a national payer and major provider networks. The system evaluates referrals based on quality, availability, and cost, then automatically manages steps such as authorizations, outreach, and scheduling to reduce friction and prevent missed handoffs.
Central to Arbiter’s approach is its Record-Action-Alignment model. This new operating foundation begins with a longitudinal patient record that consolidates clinical, financial, and policy data. From there, the platform uses AI to power automated actions and synchronize all parties involved in a patient’s care journey. The aim is to transition healthcare from today’s reactive problem response to proactive and predictive management, where needs are anticipated earlier and system-wide issues can be forecast with greater accuracy.
Arbiter’s founding team brings together executives who have overseen more than $25 billion in annual healthcare payments and operations reaching millions of patient lives. Its leadership includes veterans of Cigna, UnitedHealth, Kaiser Permanente, One Medical, and VillageMD, supported by technologists from Meta, Apple, Google, and Amazon. This combination of healthcare and technology experience is intended to give Arbiter the breadth required to address complex industry pain points.
The company ultimately envisions an end-to-end care ecosystem in which every participant operates on a shared intelligence layer, enabling patients to move from detection to resolution without unnecessary delays. Arbiter positions itself not as another point solution, but as the connective infrastructure healthcare has lacked and now urgently needs.
KEY QUOTES
“Arbiter’s mission is nothing less than to rebuild the operating spine of U.S. healthcare. By aligning payers and providers around the needs of patients, we’re transforming healthcare from a fragmented set of parts into a connected system that works for everyone.”
Michelle Carnahan, Co-Founder and CEO, Arbiter
“Healthcare fragmentation isn’t an abstract problem – it’s deeply human. Every delay or missed connection represents a patient waiting for care that should already be underway. Arbiter is uniting the system around them, so care can move at the speed of need.”
Dr. Clive Fields, Arbiter Board Member and Co-Founder of VillageMD
