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§ Private Profile · PO Box 380339, Cambridge, Massachusetts, 02238, United States
Madaket is a technology company.
Madaket Health provides a specialized platform designed to automate and streamline provider data management within the healthcare industry. This purpose-built Software-as-a-Service solution replaces fragmented and manual administrative processes across the healthcare ecosystem. It delivers capabilities that simplify complex workflows, encompassing critical functions such as licensing, credentialing, and enrollment, thus enhancing efficiency for both providers and payers.
The company was co-founded in 2012 by Jim Dougherty, alongside a team of veteran software entrepreneurs, emerging from the Harvard Square workspace supported by Koa Labs. Dougherty, also a Senior Lecturer in entrepreneurship at MIT, initiated Madaket with the insight that healthcare administration was burdened by inefficient and costly manual processes. The foundational premise was to eliminate these significant pain points that collectively cost the industry billions and countless hours.
Madaket's platform serves a broad range of stakeholders, including healthcare providers, payers, and strategic partners, all seeking to manage provider data more effectively. The company's overarching mission is to transform healthcare operations by replacing antiquated systems with a fully connected, automated, and collaborative environment. It aims to foster a more innovative and faster approach to the business of healthcare, driving toward a future of unified and efficient administrative solutions.
Madaket has raised $15.0M across 2 funding rounds.
Madaket has raised $15.0M in total across 2 funding rounds.
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 $15.0M in total across 2 funding rounds.
Madaket's investors include Gary Rieschel, Experian Ventures, PNC Bank, Salesforce Ventures.
Madaket has raised $15.0M across 2 funding rounds. Most recently, it raised $10.0M Series B in July 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2018 | $10M Series B | Gary Rieschel | Experian Ventures, PNC Bank, Salesforce Ventures | Announced |
| Sep 24, 2015 | $5M Venture Round | — | — | Announced |