Candid Health has closed a $120 million Series D that roughly triples its valuation, marking one of the larger AI revenue cycle management raises in healthcare technology this year.
The round reflects growing investor appetite for AI tools that tackle administrative overhead in healthcare. Revenue cycle management — the process of billing, claims, and payment collection — remains one of the most labor-intensive areas of hospital operations, and startups applying AI to automate these workflows have drawn increasing attention.
Candid Health’s platform ingests patient data, coding information, and payer policies to automate claim submissions and follow-ups. The company says its technology reduces denial rates and accelerates payment cycles for health systems, freeing up staff for higher-value work.
The new capital will fund expansion into larger health systems and continued product development, the company said.
