Candid Health secured $120M in Series D funding led by Sixth Street Growth to expand its AI-powered medical billing and claims automation platform.
The funding round positions Candid Health to scale its technology that automates workflows across the healthcare billing industry. The company uses AI agents to handle tasks traditionally requiring manual processing, targeting inefficiencies in claims processing and revenue cycle management.
Candid Health cofounder Doug Proctor told Fortune the capital will fuel product development and market expansion. The company addresses a persistent pain point for healthcare providers: administrative overhead from billing and claims work that consumes significant time and resources.
The Series D reflects growing investor appetite for healthcare automation startups tackling high-friction administrative processes. Medical billing represents a multibillion-dollar market with substantial room for software-driven optimization.
Candid Health joins a wave of health tech companies leveraging AI to streamline back-office operations, competing in a space where automation can directly impact provider profitability and reduce patient billing delays.
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