Candid Health cofounder Doug Proctor spun his laptop around to show me a herd of wild horses grazing behind him in upstate New York during our first Zoom call. It was a fitting flex for two guys who built one of healthcare’s hottest infrastructure companies while deliberately staying out of the Bay Area bubble, dressed, as cofounder and CEO Nick Perry put it, in “glasses and black T-shirts.”
The duo just raised a $120 million Series D, Fortune learned exclusively, led by Sixth Street Growth. Existing backers Oak HC/FT, 8VC and Y Combinator also piled back in. The round triples Candid’s 2025 valuation, and comes as annual recurring revenue grew 190% year over year. It lands roughly 18 months after Candid’s $52.5 million Series C, which itself followed a $29 million Series B just six months earlier, bringing Candid’s total raised past $219 million.
