Funding profile · Health IT infrastructure

Medplum

An ONC certified, five year old health IT company with no securities filings of any kind. Three commercial databases report its total raised as $6.5 million, $550,000 and $125,000. All three cannot be right.

0Form D notices on file with the SEC as of Sep 23, 2026
$6.5MHighest third party estimate of total raised (CB Insights)
$125KLowest third party estimate of total raised (Tracxn)
$24,000AWS Marketplace list price, hosted Production tier, per 12 months

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

Rounds at a glance

When Round Amount Investors Source
2021 Seed, reported as the only round $125,000 Y Combinator Tracxn
Jul 1, 2022 Seed VC Not disclosed Not named CB Insights
Sep 7, 2022 Accelerator or incubator $500,000 Not named PitchBook
Sep 7, 2022 Convertible note Not disclosed Not named CB Insights
Sep 30, 2022 Seed round Not disclosed Not named PitchBook
Jul 14, 2023 Angel Not disclosed Not named CB Insights
Apr 1, 2024 Accelerator or incubator $50,000 Not named PitchBook
Nov 15, 2024 Seed VC II, latest reported round $3,000,000 Not named CB Insights
2021 to 2026 Regulation D offerings $0 None SEC EDGAR

What the filings show

Medplum · SEC EDGAR · searched Sep 23, 2026

Company search
No matching companies for the name Medplum
Full text search
0 hits for the term Medplum across all form types
Alternate name
0 hits for Orangebot, the legal entity name reported by one aggregator profile
Form D notices
None · no Regulation D offering has been noticed
Investment vehicles
No special purpose vehicle named for the company appears in EDGAR
What that rules out
Nothing. Rule 506 offerings require a Form D, but a company raising under Section 4(a)(2) files none, and accelerator cheques and convertible notes often never touch Regulation D.

Reading the filings

  1. The databases disagree by a factor of fifty.CB Insights puts total raised at $6.5 million across five rounds and names a $3 million Seed VC II on November 15, 2024. PitchBook puts it at $550,000 and names no round above $500,000. Tracxn puts it at $125,000 from a single 2021 seed. $6.5M divided by $125K is 52. Two of these three are wrong, and no primary document exists to settle it.
  2. Not one dollar is confirmed by a filing.Every figure above is a vendor estimate. The SEC record is empty, no press release announces a round, and the company has never published a funding number. For a five year old company with a certified product and paying customers, that is an unusual level of silence.
  3. The investor lists do not overlap cleanly either.PitchBook names Health Engine Accelerator, 10X Capital, Brighter Capital, Gaingels and Page One Ventures among nine investors. A separate aggregator adds Rogue Capital and Pioneer Fund to a list of eight. CB Insights counts seven and names only Y Combinator. Y Combinator is the sole name common to all three, and the Summer 2022 batch is the sole round that any public record corroborates.
  4. The arithmetic that is checkable points at revenue, not equity.Hosted Production is listed at $2,000 a month, Premium at $6,000 a month, and the same Production tier appears on AWS Marketplace as a $24,000 annual contract. At list price, 25 Production customers would cover $600,000 of annual recurring revenue, more than PitchBook believes the company has ever raised. One estimate service put 2024 revenue at $1.2 million and total funding at $0.
  5. Open source changes what capital buys.The distribution cost is near zero: 500,000 or more Docker image downloads by December 2025 on the company’s own count, and 187 named contributors on the public repository as of September 2026. A company that acquires users through a free Apache 2.0 license and converts a fraction to a $24,000 contract has a materially lower burn profile than a health IT vendor funding a field sales team.
  6. The compliance spend is the real capital question.ONC certification, SOC 2 Type II and HITRUST e1 are audited, recurring costs, and the company has committed to certifying HTI-4 and CMS-0057-F changes ahead of a January 2027 enforcement date. Those bills arrive annually whether or not a round closes.

Commercial signals

Signal Detail Source type
Certification ONC certified health IT module, number 15.04.04.3147.Medp.05.03.1.251231, product Medplum version 5, certified Dec 31, 2025, across 24 criteria. Public record
Published price $2,000 and $6,000 a month hosted, free self hosted, $24,000 per 12 months on AWS Marketplace. Rare transparency for this market. Public record
Code traction GitHub API, Sep 23, 2026: 2,700 stars, 959 forks, 187 named contributors, 6,957 commits, 301 releases since June 2021. Public record
Named customers Summer Health, Develo, Rad AI, Awell with Guideway Care at a 180 facility post acute provider. Testimonials from Thirty Madison, Ro and Flexpa. Company-stated
Scale claims More than 20 million patient records and more than 120 million workflow actions, per the company home page. Not audited, no methodology published. Company-stated
Headcount Estimates range from 8 to 21 across three services. The company publishes no figure. Sources disagree

What to watch

  • A first Form D. Any priced Regulation D round triggers one within 15 days of the first sale and would end the database dispute immediately.
  • An amended or corrected entry at CB Insights or PitchBook. The $3 million November 2024 round is the single largest disputed item.
  • Whether the company ever publishes a funding total. Five years of silence is itself a signal about how the business is financed.
  • HTI-4 and CMS-0057-F certification ahead of January 2027, which is the next dated compliance cost.
  • Conversion of self hosted deployments, which generate no hosting revenue, into enterprise self hosted contracts.

The Medplum story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • InVision Medical Technology: Shared investor: Gaingels. Two FDA-cleared models that read heart ultrasounds already being performed, built by the lab that published the underlying papers first
  • Osmind: Shared investor: Gaingels. An electronic health record for psychiatry practices delivering ketamine, esketamine and TMS, and a real world evidence business built on what those practices record
  • Arintra: Shared investor: Gaingels. Software that reads a finished patient chart and pushes billing codes straight into the claim, with no coder in between
  • Sepsis Scout: Shared investor: Gaingels. A Y Combinator company that put a deep learning sepsis risk score on an off-the-shelf wearable and aimed it at cancer patients recovering at home

Sources

  1. Public recordEDGAR company search and full text search, Medplum and Orangebot, no resultsSEC · Sep 23, 2026
  2. Public recordONC certification mandatory disclosure, number 15.04.04.3147.Medp.05.03.1.251231Medplum ONC disclosure page · accessed Sep 23, 2026
  3. Public recordGitHub REST API record for medplum/medplumGitHub · queried Sep 23, 2026
  4. Public recordAWS Marketplace product listing and contract pricing, MedplumAmazon Web Services · accessed Sep 23, 2026
  5. IndependentMedplum financials, five rounds, $6.5M total raisedCB Insights · accessed Sep 23, 2026
  6. IndependentMedplum company profile, $550K raised, nine investorsPitchBook · accessed Sep 23, 2026
  7. IndependentMedplum funding rounds and investors, $125K totalTracxn · accessed Sep 23, 2026
  8. IndependentMedplum revenue estimate and team sizeGetLatka · accessed Sep 23, 2026
  9. IndependentMedplum funding and investor listExtruct · accessed Sep 23, 2026
  10. CompanyMedplum pricing page and compliance pagesmedplum.com · accessed Sep 23, 2026
  11. CompanyMedplum 2026 Roadmap, Docker downloads, contributors and starsMedplum blog · Jan 2026
  12. FoundersLaunch HN: Medplum (YC S22), business model descriptionHacker News · Nov 8, 2022

Compiled from SEC, ONC and other public records, public code repositories and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; the absence of a Form D does not establish that no capital was raised, because offerings under Section 4(a)(2) require no such notice. Healthcare Venture Capital Fund holds no position in Medplum. This page is not an offer to sell or a recommendation to buy any security.