Medallion Secures \$43M to Advance AI Platform and Launch CredAlliance, a Credentialing Clearinghouse Aimed at Cutting Redundancy and Speeding Provider Onboarding
Medallion, a leader in AI-driven provider network infrastructure, has raised \$43 million in new funding led by Acrew Capital, with participation from Washington Harbour Partners, Sequoia Capital, GV, Spark Capital, NFDG, and others—bringing its total funding to \$130 million.
Medallion automates manual back-office workflows in healthcare, simplifying credentialing, enrollment, onboarding, and compliance for provider organizations and health plans. Acting as a central system of record for provider data, the platform helps verify credentials, maintain network status, and connect patients to providers more efficiently.
Currently, Medallion supports around 1 million providers—about 10% of the U.S. healthcare workforce—and saves healthcare organizations hundreds of thousands of administrative hours each year.
“Our mission is to eliminate the operational waste that hinders care in an already overburdened system,” said Founder and CEO Derek Lo. “This investment will help us enhance our AI automation and launch CredAlliance, a scalable credentialing clearinghouse.”
Announcing CredAlliance: The First Nationwide Provider Credentialing Clearinghouse
With this funding, Medallion is officially launching **CredAlliance**, the industry’s first shared credentialing infrastructure for payers. Rather than having each health plan repeat the same credentialing process for every provider—a costly duplication that drains an estimated \$1.2 billion annually—CredAlliance verifies providers once and shares the results across participating payer networks.
Already active with several major national payers and attracting strong interest from others, CredAlliance is powered by Medallion’s AI-driven automation engine. It enables real-time verification, significantly shortens onboarding times, and reduces administrative costs. By making providers billable across networks faster, it also improves access to care and supports better care continuity.
The new funding will be allocated to:
- Enhance Medallion’s AI-driven platform to automate thousands of workflows tailored to states, providers, and payers
- Invest in go-to-market teams and strategic partnerships to drive growth among health systems, provider groups, and health plans
- Scale the CredAlliance clearinghouse and expand participation across additional payer networks
“Medallion is providing the scalable, intelligent infrastructure the healthcare industry has long needed—one that automates the heavy administrative load behind care delivery,” said Vishal Lugani, Co-Founder and General Partner at Acrew Capital. “The team’s rapid execution and strong demand from provider groups to national payers have been impressive. We’re excited to support Medallion’s next stage of growth.”
This funding comes on the heels of a period of record-breaking momentum for Medallion, during which the company:
- Accelerated provider onboarding by 40x, reducing intake time from 8 days to under 2 hours
- Rolled out advanced automation tools, including AI phone agents and technology that maps web forms to Medallion’s provider data model without manual input
- Achieved a 106% increase in enterprise annual recurring revenue (ARR)
- Launched three new products: Privileging, Integration Engine, and CAQH Management
- Enabled care access for an estimated 240 million patients across the U.S.
Amid growing provider shortages, increasing costs, and complex regulations in the U.S. healthcare system, Medallion is creating the essential link that connects providers, payers, and patients more efficiently and intelligently than ever.
Overview of Medallion
Medallion is a leading AI-powered infrastructure platform that automates provider network operations—such as credentialing, enrollment, and monitoring—at scale. By replacing manual administrative tasks with intelligent workflows, Medallion helps healthcare organizations onboard and manage providers more quickly, accurately, and efficiently. This reduction in back-office complexity allows teams to focus on what truly matters: delivering quality care.
Medallion has earned numerous accolades, including a spot on the 2025 Inc. 5000 List of America’s Fastest-Growing Private Companies, the Newsweek Excellence Index 2025, No. 3 on Inc. magazine’s 2024 Fastest-Growing Private Companies in the Pacific Region, No. 5 on LinkedIn’s 2024 Top Startups list, a 2024 Modern Healthcare “Best in Business” award, the 2024 Best Healthcare Network Management Platform at the AI Global Excellence Awards, recognition as one of Glassdoor’s Best Places to Work in 2024 and 2025, and a place on Forbes’ 2023 “Next Billion-Dollar Startups” list. Learn more at medallion.co or follow us on LinkedIn.
