Total amount raised
$75 Million
Latest funding date
08/01/2020
Location
Stedi has successfully raised funding over five rounds, with the latest being a Series B round led by Stripe. The company is backed by a total of 17 investors, including notable names like Union Square Ventures.
Keep reading to explore the intricacies of Stedi's fundraising journey and the investors backing this innovative platform.
What Is Stedi?
Stedi is a healthcare technology company based in New York, New York, United States. It operates as an API-first healthcare clearinghouse, providing programmable services that are AI-ready, scalable, and easy to use. The company is private and has raised funding through multiple rounds, including a Series B round.
Founded in an unspecified year, Stedi has an employee count ranging from 51 to 100. The company operates in the B2B, Health Care, and Information Technology sectors, offering services such as real-time eligibility checks, claims processing, and transaction enrollment. Stedi connects with a broad network of over 3,400 U.S. healthcare payers.
How Much Funding Has Stedi Raised?
- Angel Round
- Amount Raised: USD 1,000,000
- Date: January 2017
- Lead Investors: VTF Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: USD 2,700,000
- Date: July 2017
- Lead Investors: First Round Capital, Susa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series Unknown
- Amount Raised: USD 21,277,500
- Date: November 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series B
- Amount Raised: USD 50,100,000
- Date: August 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the network of digital mailboxes for business transactions.
- Series B
- Amount Raised: USD 20,000,000
- Date: November 2024
- Lead Investors: Stripe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance AI capabilities.
Total Amount Raised: USD 95,077,500. Current Valuation: Not publicly disclosed.
Key Investors
- Stripe
- Details: Stripe is a technology company that builds economic infrastructure for the internet. It is known for its payment processing software and APIs for e-commerce websites and mobile applications.
- Investment Focus Areas: Financial technology, payment processing solutions, e-commerce.
- Notable Investments: Stripe has invested in companies like Monzo, Paystack, and Rapyd.
- First Round Capital
- Details: First Round Capital is a venture capital firm that specializes in providing seed-stage funding to technology companies. It has a strong track record of investing in early-stage startups.
- Investment Focus Areas: Early-stage technology companies, consumer products, enterprise software.
- Notable Investments: Uber, Square, Warby Parker.
- Susa Ventures
- Details: Susa Ventures is a venture capital firm that focuses on data-centric startups. The firm aims to support companies that leverage data to create competitive advantages.
- Investment Focus Areas: Data-centric businesses, technology, early-stage startups.
- Notable Investments: Robinhood, Flexport, Andela.
- VTF Capital
- Details: VTF Capital is a venture capital firm that invests in early-stage technology and consumer product companies. The firm is known for its hands-on approach to supporting its portfolio companies.
- Investment Focus Areas: Technology, consumer products, early-stage startups.
- Notable Investments: Dollar Shave Club, Bonobos, Hims.
What's Next for Stedi?
Stedi's future looks promising as it continues to build a network of digital mailboxes for businesses to exchange transaction information swiftly. This innovation taps into the growing demand for efficient business-to-business communication, presenting a significant opportunity for expansion.
Given the substantial $50.1 million raised in its latest funding round, Stedi is well-positioned for future fundraising opportunities. The company's focus on digital solutions aligns with industry trends, making it an attractive prospect for investors.
However, challenges such as navigating a competitive market and potential internal strategic issues could arise. Despite these hurdles, Stedi's innovative approach and strong financial backing suggest a bright future ahead.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Stedi and gather other critical business insights. Sign up for free and start making data-driven decisions today.
