Candid Health, a leading provider of a revenue cycle management platform for healthcare providers, raised a $120 million Series D round, bringing its total funding to date to approximately $220 million, Fortune reported exclusively.
Sixth Street Growth led the investment round with participation from existing investors Oak HC/FT, 8VC, and Y Combinator.
Candid Health runs the billing operation for doctors so they don’t have to. Every insurer has its own rulebook for how a claim must be filled out, and most providers still rely on billing software built in the early 2000s to navigate over 1,000 different insurers’ rules. When something’s off (like a misplaced comma or wrong code), the claim gets kicked back, and either the patient or the doctor eats the cost. Candid Health replaces that process with AI agents and a rules engine trained on the submission quirks of more than 1,000 payers, so claims go out correctly the first time.
Alexander Katz, Managing Director at Street, says his firm interviewed nearly 40 Candid customers before writing the check, and the feedback was “consistently off the charts.” Customer proof points back that up: Talkiatry cut manual billing work by 40% and now collects 98.3% of what payers owe, while Nourish grew without adding billing staff and automatically processes 96.7% of its claims.
Doug Proctor, COO & Co-founder of Candid Health, says the real threat to legacy incumbents isn’t just software; it’s economics. Proctor frames Candid’s mission as shrinking the billing industry itself, stripping out the manual, offshore labor that props up older vendors and keeping those savings for the business instead.
Nick Perry, Co-founder and CEO of Candid Health, says he’s not fixated on an eventual IPO. “Stripe is a very large private company, and they seem great,” he said.
July 22, 2026, 4:29 PM IST