Stedi Raises $50M Series C to Modernize Healthcare Data Infrastructure
Infrastructure rarely announces itself. Then a moment hits where the plumbing stops hiding and starts dictating outcomes. Stedi just pulled in a $50M Series C led by Addition, with Stripe, Ribbit Capital, Union Square Ventures, First Round Capital, BoxGroup, and Bloomberg Beta all leaning in like they’ve seen this movie before and already know how it ends. Toss in angels like Tobias Lütke, Charlie Songhurst, Guillermo Rauch, Karim Atiyeh, Max Mullen, and Jack Altman, and you’re not looking at a cap table, you’re looking at a signal flare. Total funding now sits at $142M.
Zack Kanter didn’t build Stedi to be polite. He built it to replace a system that still thinks batch files are a personality trait. Healthcare clearinghouses have historically moved at the speed of paperwork and patience. Stedi walks in speaking JSON, pushing real time eligibility checks, claims, ERAs, and enrollment through APIs like it’s second nature. Same pipes, different physics. The kind where seconds matter and developers don’t need a translator just to get data across the room.
And then the market cracked open. February 2024, Change Healthcare goes down, and suddenly the industry remembers that “mission critical” should probably mean resilient. Stedi didn’t write a think piece. They shipped. Fast. That moment didn’t just bring customers, it brought conviction. You see it now in the numbers. Customers up 6x. Transactions up over 7x. More than 1B claims and eligibility checks moving annually. February alone outpaced half of the prior year. Support scaled with it, response times dropping to 6.7 minutes while volume exploded. Humans, not bots. Imagine that.
Under the hood, this isn’t just API first for the slide deck. Every function, fully programmable. JSON in, X12 out, then back again without friction. Add in Stedi Agent and an MCP server built for AI-native workflows, and you start to understand why a third of their customers are GenAI healthcare companies sitting on $5B in funding. The clearinghouse is no longer a cost center. It’s becoming a control layer.
This round is about pressure and expansion. More direct payer integrations. Deeper transaction coverage. More engineers, more product velocity, more surface area across providers from small practices to massive health systems. Quietly, this is how defaults get set. Not loud, just execution stacked on execution until switching feels irrational.
Congratulations to Zack Kanter and the entire Stedi team. Also respect to Addition and a bench of investors who clearly understand that when infrastructure gets programmable, the winners don’t just participate in markets, they start defining them.
