Madaket is a technology company.
Madaket has raised $10.0M across 1 funding round.
Madaket has raised $10.0M in total across 1 funding round.
Madaket has raised $10.0M in total across 1 funding round.
Madaket's investors include Qiming Venture Partners USA.
Madaket Health is a healthcare technology company specializing in automated provider data management through its SaaS-based Provider Data Exchange (PDX) platform. It serves payers, providers, revenue cycle management systems, and health plans by automating administrative tasks like credentialing, payer enrollment, licensing verification, data integration, and EDI transactions, solving inefficiencies in governance, risk management, and compliance (GRC) that lead to manual errors, delays, and billions in industry costs[1][2][3][4]. With around 40 employees in Cambridge, Massachusetts, and $8.4 million in revenue, Madaket demonstrates growth momentum through product releases like its No Surprises Act-compliant provider directory updates and integrations with clients such as Trizetto Provider Solutions and CareCentrix[1][2].
Madaket Health was founded in 2012 in Cambridge, Massachusetts, to address broken healthcare administration processes, particularly the manual, error-prone enrollment between providers and payers[2][3][4]. While specific founders are not detailed in available sources, the company's leadership includes visionaries like President & CEO Megan Schmidt, Chief Data Officer Ted Achtem, Chief Operating Officer Jeannine Dahling, and Chief Technology Officer Benedict Dsilva, who guide its mission to automate workflows across stakeholders[4]. Early traction came from streamlining paperwork for faster payments to hospitals, health systems, and private practices, evolving into a comprehensive PDX platform that now covers over 80% of providers for real-time data exchange[1][3].
Madaket rides the healthtech administrative efficiency trend, capitalizing on regulatory pressures like the No Surprises Act, which mandates timely provider directory accuracy to protect patients from surprise billing[1]. Timing is ideal amid rising healthcare costs and digital transformation, where manual data management wastes billions; market forces like payer-provider friction and compliance demands favor automated platforms like PDX over legacy systems[3][4]. By influencing the ecosystem through integrations and data coverage of 80% of providers, Madaket enables faster care delivery, reduces administrative burdens, and competes with firms like symplr, Certify, and Verifiable in provider network management[2][5].
Madaket is poised for expansion by deepening PDX integrations and leveraging AI-driven analytics for predictive compliance and enrollment. Trends like value-based care, telehealth growth, and stricter regulations will amplify demand for its automation, potentially scaling revenue through more health plan adoptions. Its influence may evolve from niche PDM leader to ecosystem unifier, tying back to its core mission of fixing healthcare's administrative inefficiencies for broader, faster impact[1][4].
Madaket has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Series B in July 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2018 | $10.0M Series B | Qiming Venture Partners USA |