Medallion

Credentialing, licensing, and enrollment on one platform

Our take

Medallion is the widest-scope provider operations platform in the credentialing market. It handles state licensing, primary-source credentialing, payer enrollment, and ongoing monitoring for provider organizations, digital health companies, and health plans, acting as the system of record for provider data. The pitch is consolidation: instead of separate vendors for licensing, a CVO, and enrollment, one platform and one dataset carry a provider from hire to billing.

Founded in 2020 and based in San Francisco, Medallion has raised $130M from Sequoia, GV, Spark Capital, and Acrew, and reports more than 250 customers including Tampa General Hospital, Carbon Health, and Headspace. The company said enterprise ARR grew 106% in the year before its August 2025 raise, which also funded CredAlliance, a clearinghouse that verifies a provider once and syndicates results across participating payers. It is the best-funded pure-play in this group and is pushing hardest toward becoming shared industry infrastructure.

What it does

Automates state licensing applications and renewals
Credentialing with primary source verification
Payer enrollment across commercial and government plans
Continuous monitoring for sanctions and expirables
CredAlliance clearinghouse shares credentialing across payers
Single system of record for provider data

Where it's strong

Broadest scope in the category, covering licensing, credentialing, enrollment, and monitoring in one platform, which cuts vendor sprawl.
Well capitalized at $130M with brand-name investors and 250+ customers, so vendor risk is lower than most peers.
Strong fit for multi-state telehealth and fast-scaling groups that need licensing and enrollment handled together.

What buyers should weigh

Much of the work is service-backed rather than pure software, so outcomes depend on Medallion's ops team; get turnaround SLAs in writing.
Pricing is per-provider and per-service, and enrollment is typically priced separately from credentialing, so total cost climbs with scope.
CredAlliance launched in August 2025 and its payer network effects are still unproven.

Latest

Raised $43M in August 2025 (led by Acrew Capital) and launched CredAlliance, a shared credentialing clearinghouse for payers.