What is Madaket?
Madaket Health operates as a specialized SaaS provider, delivering an intuitive platform for automated provider data management. Its core offering, the Provider Data Exchange (PDX), serves as a centralized hub that facilitates seamless governance, risk management, and compliance (GRC) functions between payers and providers. By functioning as both a data repository and a sophisticated transaction processing engine, Madaket enables revenue cycle management systems and health plans to achieve greater operational accuracy. With a footprint covering over 70% of U.S. provider groups, the company is actively reducing billions of dollars in administrative waste, positioning itself as an essential utility in the modern healthcare ecosystem.
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 Waterline Ventures, F-Prime Capital Partners, Lux Capital, and Allen & Company LLC
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
The investment arm of the global CRM leader, focusing on cloud-based solutions that drive digital transformation and customer relationship management across diverse enterprise sectors.
PNC Financial Services Group
A diversified financial services institution providing comprehensive banking, asset management, and institutional technology solutions to a broad range of corporate and individual clients.
Experian Ventures
The venture division of a global information services firm, specializing in data analytics, credit reporting, and financial risk management solutions for the healthcare and banking industries.
What's next for Madaket?
With the infusion of recent capital, Madaket is well-positioned to accelerate its product roadmap and deepen its market penetration. The company's strategic focus remains on enhancing the interoperability of its PDX platform, ensuring that health plans and provider networks can navigate the increasingly complex regulatory landscape with greater agility. As the industry shifts toward more transparent and automated data exchange, Madaket is poised to leverage its existing network effects to capture additional market share, potentially expanding its analytics capabilities to provide deeper insights into provider performance and network integrity.
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