Medallion raises $43M, unveils platform to accelerate provider onboarding

San Francisco-based Medallion raised $43 million to accelerate its AI platform and launched CredAlliance, a national credentialing clearinghouse, according to an August 18 press release.

The new funding round was led by Acrew Capital, with participation from Washington Harbour Partners, Sequoia Capital, GV, Spark Capital, NFDG and others. The investment brings Medallion’s total funding to $130 million.

Medallion’s platform supports approximately 1 million providers, or about 10% of the U.S. healthcare workforce, by automating provider operations such as credentialing, onboarding and compliance. The company said its tools eliminate hundreds of thousands of administrative hours annually.

With the launch of CredAlliance, Medallion aims to reduce the estimated $1.2 billion in duplicative costs associated with redundant provider verification. The clearinghouse verifies providers once and shares that data across participating payer networks.

The company said its automation tools onboard providers 40 times faster, cutting intake time from 8 days to under 2 hours. Enterprise ARR grew by 106%, and Medallion now supports access to care for an estimated 240 million patients nationwide.

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