Stedi

API-first clearinghouse for developers

Our take

Stedi is an API-first healthcare clearinghouse. It gives developers programmatic access to the X12 transactions that run US healthcare administration: real-time eligibility checks, insurance discovery, claim submission, claim status, and electronic remittances, across a network of more than 3,400 payers. Founded in 2017 by Zack Kanter as a general EDI platform, the company refocused on healthcare and found its market when the 2024 Change Healthcare cyberattack sent digital health companies looking for modern clearinghouse rails. Its buyers are engineering teams at health tech startups, RCM platforms, and provider groups that want to build eligibility and claims workflows into their own products rather than click through a legacy portal.

Stedi has become the default clearinghouse choice for venture-backed health tech. Named customers include Pair Team, Tennr, Nirvana, Berry Street, and Candid Health, and the company reports paying customers up 6x and billed transaction volume up 7x year over year, with more than 1 billion claims and eligibility transactions processed annually. It has raised $142M from Addition, Stripe, USV, First Round, and angels including Tobi Lutke and Guillermo Rauch, most recently a $50M Series C in March 2026. It competes on developer experience, documentation, and support speed against entrenched incumbents (Availity, Optum, Waystar) that dwarf it in payer relationships and enterprise install base.

What it does

Real-time eligibility checks via JSON API (270/271)
Insurance discovery when patient coverage is unknown
Claim submission and claim status via API (837/276)
Electronic remittance advice (ERA) retrieval
Payer transaction enrollments managed programmatically
Batch eligibility checks at high volume

Where it's strong

Everything is accessible via API with public docs and transparent self-serve onboarding, which legacy clearinghouses like Availity and Optum do not offer.
Support is unusually fast for the category, with a median ticket response under seven minutes across 1,500+ shared support channels.
Well capitalized ($142M raised, backed by Stripe and Addition) with rapid traction: paying customers up 6x and billed transactions up 7x year over year into 2026.

What buyers should weigh

It is clearinghouse rails, not a billing service; you need engineers to build eligibility and claims workflows on top of it.
Its direct payer network is younger than Availity's or Optum's, so some connections still route through intermediary partners.
The company only pivoted from general-purpose EDI to healthcare around 2023, so its healthcare-specific track record is short.

Latest

Raised a $50M Series C led by Addition in March 2026, six months after a $70M Series B co-led by Stripe and Addition, bringing total funding to $142M as it processes over 1 billion transactions annually.