Candid Health, a healthcare financing startup that uses artificial intelligence to make the medical billing process more efficient, signed a three-year lease for 14,000 square feet of office space at 3400 Walnut St.
That comes after a $120 million raise Candid announced in July, bringing its total lifetime funding to $220 million since Doug Proctor and Nick Perry founded it in 2021.
Proctor, Candid’s chief operating officer, called Paradigm “an inspiring place to fix America’s health care revenue challenge.”
“The vibrant local businesses in RiNo – the coffee shops, and restaurants in easy walking distance create an energy, culture and vibe that matches the culture of connectedness and transparency that’s so important to Candid,” Proctor said in a statement.
Candid, which says it has 250 health care organizations as customers, is upgrading from the 2,000 square feet it had in the Wells Fargo Center downtown. Before Uptown, Proctor and his team were at a smaller space in Cherry Creek.
In the past year, Candid has grown from 20 to 30 employees in Denver. The business also has offices in San Francisco and New York City and has 200 full-time staffers on payroll, Proctor said.
With the recent cash infusion, Candid will go on a hiring spree across all its departments, including engineering, product, design, sales and operations. Proctor anticipates headcount will double across the board in the next 12 to 18 months and sees his Denver team growing to around 60.
“Plenty of opportunities exist in the Bay Area and New York. But there’s a powerful tech scene here too, with smart folks who want to solve hard problems,” Proctor said. “Establishing an office here lets us build that in-person culture while tapping into the talent pool that exists between the coasts. That’s a competitive edge over startups that only recruit out of Silicon Valley.”
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