Midstream Health Raises $20M Series A | nPhase Secures $30 Million in Series D Funding

Check out today’s featured companies who have recently raised a round of funding, and be sure to check out the full list of past healthcare IT fundings.

Midstream Health Raises $20M Series A to Strengthen the Financial Sustainability of America’s Health Systems

AI Platform Now Optimizes Financial Decision-Making Across Health Systems Representing More Than $100 Billion in Annual Operating Expenses and 250 Hospitals

Midstream Health, the autonomous financial operations platform for health systems, today announced a $20 million Series A as it expands across a customer network representing more than $100 billion in annual operating expenses and over 250 hospitals nationwide. Midstream helps these institutions find and recover margin across both revenue and cost, strengthening the financial capacity required to continue investing in care and serving their communities.

The financing round was led by Valtruis with continued participation from Andreessen Horowitz (a16z), Foundry, and CommonSpirit Ventures, bringing Midstream’s total funding to $29.2 million. Fairview Health Services and Keck Medicine of USC are among the newest health systems to join the platform, alongside CommonSpirit Health, Mount Sinai Health System and Houston Methodist.

This announcement comes as health systems are facing a financial sustainability crisis, fighting to protect razor-thin margins. More than 110 rural hospitals have closed over the past 20 years, and another 720 — representing roughly a third of all rural hospitals — are at risk of closure. Much of what’s slipping away is money health systems have already earned, buried in their own contracts and spend. Recovering that margin is about more than improving the bottom line; it gives health systems greater capacity to invest in care, serve their communities, and deliver on the mission their patients depend on.

“In this environment, health systems need solutions that can improve their financial position quickly,” said Mike Spadafore, Managing Director of Valtruis…

Full release here, originally announced October 29th, 2026.

nPhase Secures $30 Million in Series D Funding to Drive Global Expansion of AI-Native Clinical Data Platform for Life Sciences

Investment Will Scale nPhase’s Enterprise Clinical Data Business and Accelerate Expansion of Its Statistical Computing Environment (SCE), Unified Data Management System (UDMS), and Agentic AI Capabilities Across the Clinical Data Lifecycle

nPhase, Inc., today announced the closing of a $30 million Series D funding round led by Viking Global Investors to accelerate the company’s AI-native clinical data platform for pharmaceutical sponsors seeking to unlock the full potential of their data and power AI at scale. Viking Global Investors is an investment firm managing more than $54 billion in capital across public and private investments. The financing represents nPhase’s first equity capital raise since 2017, reflecting the company’s disciplined approach to capital management and its ability to build and expand its business without additional equity financing for nearly a decade.

“We see a significant opportunity to modernize how the life sciences industry manages and uses clinical data,” said Levi Malik, a Principal at Viking Global Investors. “nPhase combines something rare in the AI market: an established foundation in clinical research, deep understanding of regulatory requirements, and a clear vision for enterprise-scale AI. We believe this combination positions the company well for its next stage of growth.”

The funding follows the launch of the nPhase.ai clinical data platform, which unifies its Unified Data Management System (UDMS) and Statistical Computing Environment (SCE) to connect the clinical data lifecycle from study startup through regulatory submission. Today, that journey can take months and require navigating numerous disconnected systems and manual handoffs. nPhase has built a unified platform that connects the clinical data lifecycle end to end, so data becomes…

Full release here, originally announced November 2nd, 2026.