Tandem Technology, a healthcare AI startup backed by General Catalyst, is nearing a valuation of $1 billion, according to a report. The New York–based company is said to be raising $100 million in a new funding round led by Accel.
The deal has not yet been publicly announced, and the company did not respond to requests for comment.
The startup has previously raised about $137 million. Its existing investors include Thrive Capital and General Catalyst, which led Tandem’s $30 million Series A round in 2024.
Automating one of healthcare’s biggest bottlenecks
Tandem, founded by Sahir Jaggi, builds software to simplify prescription processing in the US healthcare system. Its technology focuses on automating tasks such as prior authorisations and pharmacy routing, areas that are often slow, manual, and costly.
Its tools are offered at no cost to healthcare providers or patients. Beyond prescription workflows, the US company plans to work more closely with biopharma companies to accelerate drug development.
The company expects its platform to reach millions of patients in 2026, though it has not disclosed details on current live deployments or integrations with insurers, pharmacy benefit managers, or major electronic health record systems.
Standards bodies are already working on technical guidelines for common prior authorisation APIs, a shift that could reduce paperwork and open up new infrastructure opportunities for software providers.
For Tandem, broader adoption of these standards could strengthen the foundation on which its AI tools rely as the company scales. However, key performance metrics such as approval rates, time-to-therapy reductions, and system-wide adoption have not yet been publicly shared, the company says.
The funding round and valuation remain unconfirmed, but the talks signal strong investor interest in healthcare AI tools that tackle some of the system’s most persistent operational bottlenecks.
