Funding profile · Healthcare revenue cycle software

Candid Health

Four priced rounds in six years, three of them in the last 24 months, and about $219.5 million reported raised. One Form D sits behind all of it, and it reports less than the announcement did.

$219.5MTotal raised, company-reported (Jul 2026)
$120.0MSeries D announced, led by Sixth Street Growth
$104.9MSold per the only Form D on file (Jul 22, 2026)
12Investors in that offering, about $8.74M each

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2020 Y Combinator Winter 2020, then seed Not disclosed Y Combinator; BoxGroup and First Round Capital named later as existing investors Company timeline
By 2023 Series A Not disclosed Led by First Round Capital Company timeline
Sep 2024 Series B $29.0M Led by 8VC, with First Round Capital, BoxGroup, Y Combinator Trade press
Feb 2025 Series C $52.5M Led by Oak HC/FT, existing investors participating Trade press
Jun to Jul 2026 Series D $120.0M announced · $104.9M sold at filing Led by Sixth Street Growth, with Oak HC/FT, 8VC, Y Combinator Form D + release
Running total Company-reported cumulative $47M (2024), $99.5M (2025), $219.5M (2026) As stated in each announcement Company-stated

What the filings show

Candid Group, Inc. · Form D · filed Jul 22, 2026

First sale
Jun 3, 2026
Offered
Equity, total offering amount reported as indefinite
Sold
$104,873,634
Investors
12 · average about $8,739,470
Exemption
Rule 506(b)
Related persons
Nick Perry (executive officer, director); Doug Proctor (executive officer, director); Sebastian Caliri (director); William Deitch (director); Alex Katz (director)
Other fields
Industry: Other Health Care · Revenue range: decline to disclose · Incorporated in Delaware more than five years ago · Proceeds for general corporate and working capital purposes · No sales commissions or finders fees reported
Filing
SEC EDGAR, CIK 0002144950, 301 Howard Street, Suite 1500, San Francisco

Reading the filings

  1. The filing is $15.1 million short of the headline.The announcement says $120,000,000. The Form D reports $104,873,634 sold. The difference is $15,126,366, about 12.6 percent of the round. The total offering amount is entered as indefinite, so more can be sold without an amendment, and none has been filed as of September 23, 2026.
  2. Twelve checks, about $8.74 million each.$104,873,634 divided by 12 investors is roughly $8,739,470. That average is institutional, consistent with a growth round led by Sixth Street with three existing funds following, and it leaves no room for an angel crowd.
  3. The notice came 49 days after the first sale.First sale is June 3, 2026; the filing is dated July 22, 2026, the same day as the press coverage. Rule 503 asks for a Form D within 15 days of the first sale. The money moved in early June; the public record and the announcement arrived together seven weeks later.
  4. The board is the cap table.Three of the five listed related persons map to the three lead investors: Sebastian Caliri of 8VC led the Series B, Billy Deitch of Oak HC/FT the Series C, and Alex Katz of Sixth Street Growth the Series D. Perry and Proctor hold the other two seats. No independent director is listed.
  5. Half the reported capital has no filing behind it.Only one Form D exists under this filer, and no other EDGAR entity naming Candid Health appears, including single-company investment vehicles. The seed, Series A, Series B and Series C are documented only by announcements. $104.9 million of the roughly $219.5 million reported total, about 48 percent, has a securities filing behind it. Offerings sold under Section 4(a)(2) rather than Regulation D require no Form D, so the gap is not evidence that those rounds did not happen.
  6. The filer is not named Candid Health.The filing entity is Candid Group, Inc., and EDGAR lists no former name for it. The link is not in doubt: the signature is Nick Perry as Chief Executive Officer, the address is Candid’s San Francisco office, and the directors are the founders and the three lead investors. Searching EDGAR for the trading name alone finds nothing.

Commercial signals

Signal Detail Source type
Security SOC 2 Type 2 examination by AssurancePoint, LLC for Jan 15 to Apr 15, 2025, covering Security, Availability and Confidentiality, unqualified opinion. No HITRUST certification found. Certifier
Customers More than 200 organizations, company-stated since Feb 2025; 250 reported by The Denver Post in Sep 2026. Named: Talkiatry, Tia, Nourish, Allara. Company-stated
Scale About $7 billion in annual claim volume; 190 percent growth in annual contracted run rate revenue and 180 percent net dollar retention in 2025; valuation tripled from the Series C. No absolute revenue figure is public. Company-stated
Footprint 200 full time staff; offices in San Francisco, New York and Denver; a three year lease on 14,000 square feet in Denver signed after the round, up from 2,000 square feet. Independent
Recognition 2026 MedTech Breakthrough award for Best Use of Artificial Intelligence in Healthcare, announced May 7, 2026; Fierce Healthcare Innovation Awards winner, Financial Solutions, Nov 2025. Both are submission based. Independent
Regulatory records No FDA, clinical trial, NIH, NSF or PubMed record, as expected for billing software. No HIPAA breach report naming the company was found. Public record

What to watch

  • An amendment or a second Form D covering the remaining $15.1 million of the announced round.
  • Whether future filings appear under Candid Group, Inc. or a renamed entity.
  • Whether the next SOC 2 report covers twelve months rather than three.
  • Any disclosed revenue figure. Growth rates and retention are published; the base is not.
  • Consolidation around it: Ensemble, TruBridge, Vitalware and CaduceusHealth all changed hands in 2026 while Adonis, Commure and Amperos raised.

The Candid Health story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Pine Park Health: Shared investor: Boxgroup. A primary care practice that puts clinicians inside senior living communities instead of asking residents to travel out
  • Luminate Medical: Shared investor: 8Vc. A Galway company building wearables that press the blood supply shut around hair follicles and nerves so chemotherapy reaches less of them
  • 64x Bio: Shared investor: Boxgroup. A Harvard spinout that engineers the cells which manufacture viral vectors, rather than the therapies those vectors carry
  • Arintra: Shared investor: First Round. Software that reads a finished patient chart and pushes billing codes straight into the claim, with no coder in between

Sources

  1. Public recordForm D, Candid Group, Inc., CIK 0002144950SEC EDGAR · Jul 22, 2026
  2. Public recordEDGAR company search for filers named Candid, and submissions index for CIK 0002144950SEC · accessed Sep 23, 2026
  3. IndependentCandid Health secures $120M series D as investment in AI-powered RCM ramps upFierce Healthcare · Jul 22, 2026
  4. IndependentCandid Health raises $120 million to take on America’s $280 billion medical billing messFortune · Jul 22, 2026
  5. IndependentSix months after raising $29M, Candid Health nabs another $52.5M to ease medical billingTechCrunch · Feb 12, 2025
  6. IndependentHealthcare billing startup leases RiNo office after $120 million raiseThe Denver Post · Sep 6, 2026
  7. InvestorWhy We Invested in Candid HealthSixth Street · Jul 22, 2026
  8. InvestorCandid Health Raises $52.5 Million Series C to Enhance GenAI FeaturesOak HC/FT · Feb 12, 2025
  9. CompanyCandid Health Successfully Completed Type 2 SOC 2 Examination with an Unqualified OpinionPR Newswire · May 21, 2025
  10. CompanyAbout page timeline and customer case studiesCandid Health · accessed Sep 23, 2026

Compiled from SEC and other public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Candid Health. This page is not an offer to sell or a recommendation to buy any security.