Medallion Raises $35 Million in Series C Funding Fueled by Significant Revenue Growth Over Past Six Months

Spark Capital doubles down on its investment in leading provider network management platform with introduction of new investors GV and Salesforce Ventures Medallion, the modern provider management platform, today announced $35 million in Series C funding, raising its total funding to $85M. This investment comes on the heels of exceptional growth in the six months following its Series B round, including nearly doubling its employee count to 150, growing its revenue by 2x, and diversifying its customer base by doubling the number of health plans, providers and health systems. The round was co-led by Spark Capital and new investor GV (formerly Google Ventures) with participation from new investor Salesforce Ventures and existing investors, including Sequoia Capital, Optum Ventures, BoxGroup, and Elad Gil. “Medallion’s mission from day one has been to enable continuous, cost-effective care to patients by combining an industry-leading team of healthcare operations experts with a modern, efficient, and powerful provider network platform that health systems, payors, and virtual care organizations can rely on,” said Derek Lo, founder and CEO of Medallion. “With this additional funding, we’ll be able to accelerate product development, expand our go-to-market organization, and deepen strategic partnerships across our platform as we continue on our impressive growth trajectory.” This funding comes six months after Medallion’s Series B and twelve months after its Serie...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT BoxGroup Derek Lo Elad Gil Google Ventures GV Health IT Funding Health IT Fundings Health IT Investment Healthcare Administration Katie Thiry Medallion Optum Ventures Salesforce Ventures Sangee Source Type: blogs