What is Madaket?
Madaket Health operates as a specialized SaaS provider, delivering an intuitive platform for provider data management. Its flagship solution, the Provider Data Exchange (PDX), serves as a centralized hub for governance, risk management, and compliance (GRC) functions. By automating the exchange of sensitive provider information, Madaket facilitates seamless collaboration between health plans, provider networks, and revenue cycle management systems.
The platform's impact is substantial, as it currently processes transactions on behalf of more than 70% of U.S. provider groups. By mitigating the administrative burden and reducing the billions of dollars in waste associated with manual data entry and verification, Madaket has established itself as an essential utility for modern healthcare organizations seeking to optimize operational efficiency and ensure regulatory compliance.
How much funding has Madaket raised?
Madaket has raised a total of $21.9M across 4 funding rounds:
Series A
$10M
Series B
$10M
Debt
$1M
Debt
$935K
Series A (2017): $10M with participation from Allen & Company LLC, Waterline Ventures, F-Prime Capital Partners, and Lux Capital
Series B (2018): $10M led by Salesforce Ventures, Qiming Venture Partners, PNC Financial Services Group, and Experian Ventures
Debt (2020): $1M supported by PPP
Debt (2021): $935K featuring PPP
Key Investors in Madaket
Salesforce Ventures
Salesforce Ventures is the corporate investment arm of the global CRM leader, focusing on cloud-based solutions and enterprise software that drive digital transformation.
PNC Financial Services Group
PNC Financial Services Group is a diversified financial institution providing comprehensive banking, asset management, and institutional technology solutions.
Experian Ventures
Experian Ventures is the strategic investment division of the global information services company, specializing in data analytics, credit reporting, and financial technology.
What's next for Madaket?
With the support of its recent strategic financing, Madaket is well-positioned to further penetrate the enterprise healthcare market. The company's roadmap likely involves deepening its integration capabilities and expanding its analytics engine to provide more granular insights into provider network performance. As the industry continues to shift toward value-based care, the demand for accurate, real-time data governance will only intensify.
Looking ahead, Madaket is expected to leverage its robust data infrastructure to address emerging challenges in healthcare interoperability. By continuing to reduce friction in the provider-payer relationship, the firm is poised to maintain its leadership in the GRC space, potentially exploring new market segments where automated data exchange can drive significant cost savings and operational improvements.
