Stedi Secures $50M In Series C Funding Led By Addition And Other Investors

Stedi, a Denver, CO-based healthcare clearinghouse, raised $50 million in Series C funding led by Addition, with participation from Stripe, Ribbit Capital, USV, First Round, BoxGroup, Bloomberg Beta, and angel investors Tobi Lütke, Guillermo Rauch, and Karim Atiyeh.

Summary of transaction details:

• Deal Type: Series C
• Transaction Amount: $50,000,000
• Company: Stedi
• Headquarters: Denver, Colorado
• Founder and CEO: Zack Kanter
• Investors: Addition, Stripe, Ribbit Capital, USV, First Round, BoxGroup, Bloomberg Beta, Tobi Lütke, Guillermo Rauch, Karim Atiyeh
• Growth Metrics: 6x increase in paying customers, 7x increase in transaction volume, processing over one billion transactions annually

Stedi connects healthcare providers and payers to efficiently handle transactions, including eligibility checks, claims, and electronic payments. The funds raised will be utilized to expand the company's product presence and scale its infrastructure.