Candid Health was founded in 2019 by Nick Perry and a team of former Palantir engineers to fix the deeply broken process of medical billing in the United States. Provider organizations routinely lose revenue and waste enormous staff time navigating opaque payer rules, claim denials, and manual rework. Candid Health replaces this with a modern, software-first revenue cycle platform that automates the end-to-end billing process, from claim creation and scrubbing through submission and denial follow-up.
The platform encodes complex payer-specific rules and uses automation and AI to catch errors before claims are submitted, dramatically reducing denials and accelerating reimbursement. Rather than relying on large offshore billing teams to chase claims, Candid's customers get a system that handles the bulk of the work automatically and flags only the exceptions that need human attention. This is especially valuable for fast-growing digital health companies and physician groups that need billing infrastructure that scales without proportional headcount.
Candid has built strong commercial momentum, growing revenue nearly 250% in 2024 as more providers sought to modernize their revenue cycle operations. Its software-centric approach differentiates it from legacy revenue cycle management vendors that lean heavily on manual labor and outdated technology.
The company's funding reflects this traction. In mid-2024 Candid raised a $29 million Series B led by 8VC, and just six months later, in February 2025, it raised a $52.5 million Series C led by Oak HC/FT, bringing total funding to roughly $99.5 million. The capital funds enhanced generative AI features and expansion of its revenue cycle automation platform to more providers.
Led by co-founder and CEO Nick Perry, Candid Health is positioned to become a modern infrastructure layer for medical billing, an area where the combination of automation and AI can unlock significant efficiency in a notoriously costly part of US healthcare.