Medallion, a leader in AI-based provider network infrastructure, announced it has raised $43 million in new funding. Acrew Capital led the round, with participation from Washington Harbour Partners and insiders, including Sequoia Capital, GV, Spark Capital, NFDG, and others. This funding brings Medallion’s total to $130 million.
Medallion enhances healthcare back-office operations by replacing repetitive manual workflows with intelligent automation. This streamlined platform helps provider organizations and health plans manage credentialing, enrollment, onboarding, and compliance more efficiently. Serving around 1 million providers—about 10% of the U.S. healthcare workforce—Medallion eliminates hundreds of thousands of hours of administrative burden annually.
With recent funding, Medallion is launching CredAlliance, the first shared credentialing infrastructure for payers. This initiative allows health plans to verify providers once and share results across networks, saving an estimated $1.2 billion annually.
CredAlliance is already in use with several major national payers, with strong interest from others. Medallion’s AI-powered automation enables real-time verification, significantly reducing onboarding times and improving access to care.
Recent achievements include:
- Onboarding providers 40x faster (reducing intake from 8 days to under 2 hours).
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Launching advanced automation tools.
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Increasing enterprise Annual Recurring Revenue (ARR) by 106%.
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Introducing three new products: Privileging, Integration Engine, and CAQH Management.
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Supporting access to care for approximately 240 million patients nationwide.
As challenges such as provider shortages and rising costs continue to grow in the U.S. healthcare system, Medallion is creating vital connections among providers, payers, and patients efficiently and intelligently.
How the funding will be used: This funding will be utilized to:
- Expand Medallion’s AI-powered platform to automate thousands of workflows that are specific to states, providers, and payers.
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Invest in go-to-market teams and partnerships to accelerate growth within health systems, provider groups, and plans.
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Scale the CredAlliance clearinghouse and onboard additional payer participants.
KEY QUOTES:
“In a system where inefficiency and clinician burnout are systemic, our mission is to eliminate the operational waste that stands in the way of care. This funding allows us to double down on our AI automation platform and launch CredAlliance, our credentialing clearinghouse that makes verification truly scalable.”
Derek Lo, CEO and Founder of Medallion
“Medallion is delivering what the healthcare industry has needed for years: a scalable, intelligent infrastructure layer that automates the administrative burden behind care delivery. We’ve been impressed by the team’s speed of execution and the depth of customer demand across the ecosystem, from provider groups to national payers. We’re proud to back Medallion’s next phase of growth.”
Vishal Lugani, General Partner and Co-founder of Acrew Capital
