SAN FRANCISCO — Medallion, a company specalizing in AI-powered provider network infrastructure, 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 brings Medallion’s total funding to $130 million.
Medallion replaces repetitive, manual workflows in the healthcare back-office with intelligent automation, streamlining how provider organizations and health plans manage credentialing, enrollment, onboarding, and compliance. The platform serves as the unified system of record for provider data, enabling customers to verify credentials, stay in-network, and connect patients with providers more efficiently.
Today, Medallion supports approximately 1 million providers, about 10% of the U.S. healthcare workforce, and helps healthcare organizations eliminate hundreds of thousands of hours in administrative burden annually.
“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,” said Derek Lo, CEO and Founder of Medallion. “This funding allows us to double down on our AI automation platform and launch CredAlliance, our credentialing clearinghouse that makes verification truly scalable.”
With this funding, Medallion is publicly launching CredAlliance, the industry’s first shared credentialing infrastructure for payers. Instead of requiring each health plan to independently repeat the same credentialing process for each provider, a duplicative effort that costs the system an estimated $1.2 billion annually, CredAlliance verifies providers once and syndicates the results across participating payer networks.
CredAlliance is already live with several major national payers, with strong demand from others to join. Medallion’s AI and automation engine powers the underlying workflows, enabling real-time verification and dramatically reducing onboarding timelines. This shared infrastructure not only reduces costs but also allows providers to become billable across networks more quickly, thereby improving access and continuity of care.
The new capital will be used to:
- Expand Medallion’s AI-powered platform to automate thousands of state-, provider-, and payer-specific workflows.
- Invest in go-to-market teams and partnerships to accelerate growth across health systems, provider groups, and plans.
- Scale the CredAlliance clearinghouse and onboard additional payer participants.
“Medallion is delivering what the healthcare industry has needed for years: a scalable, intelligent infrastructure layer that automates the administrative burden behind care delivery,” said Vishal Lugani, General Partner and Co-founder of Acrew Capital. “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.”
