Nitra Secures $187M for AI Healthcare Platform Growth

In a significant move poised to reshape administrative workflows across the healthcare sector, Nitra, an innovator in AI-driven operational platforms for medical practices, has successfully closed $187 million in new financing. This substantial capital injection, comprising Series A and B equity rounds, venture debt, and an expanded warehouse facility, elevates the company's total funding to $205 million, with $90 million in equity capital raised to date. The funding arrives on the heels of a remarkable year for Nitra, which saw its annualized processing volume soar past $1 billion, signaling a growing industry appetite for integrated, AI-powered solutions beyond traditional clinical applications.

The equity component of this latest raise totals $72 million, split between a $50 million Series B and a previously undisclosed $22 million Series A completed in August 2025. A diverse syndicate of investors participated, including Actions Capital, AppWorks, Comma Capital, Dunamu & Partners, Era Funds, New Enterprise Associates (NEA), Pantera Capital, and Sazze Partners. Additional support came from AAF, Gaingels, Hyphen Capital, K8, Mana Ventures, Necessary Ventures, PIDC/Uni-President, Purestone Silks, SignalRank, Simu Liu's Markham Valley Ventures, and Soma Capital. Complementing the equity, Avenue Capital Group provided $20 million in venture debt, while Treville Capital Group and Encina Lender Finance, LLC expanded the warehouse facility to $95 million.

This financial milestone underscores a pivotal shift in healthcare, where administrative burdens account for an estimated 25% of the nearly $5.9 trillion U.S. healthcare expenditure. Fragmented systems for payments, procurement, and patient management have long plagued practices. Nitra's platform, launched in 2024 by CEO Tim Hwang and President Jonathan Chen, directly addresses this by embedding AI agents into the operational core. Its comprehensive suite now encompasses financial automation with a Visa-powered expense card and AI-driven accounting, commerce and inventory management through partnerships with giants like McKesson and Medline, and newly launched patient management features leveraging voice AI for scheduling and insurance verification.

The company's growth trajectory has been nothing short of explosive. In 2025, Nitra achieved over 740% revenue growth, escalating from $4 million to over $33 million in annualized revenues. Its platform is now utilized by thousands of physicians across more than 700 clinics, processing over $1 billion in annualized volumes. Notably, in December 2025, the platform facilitated over $9 million in critical biopharma and medical purchases in a single day. Looking ahead, Nitra projects to serve over 3,000 clinics, exceed $150 million in annualized revenues, and process over $4 billion in annualized volumes by the end of 2026. This expansion will be supported by a significant increase in headcount, from 50 to over 200 employees, and the introduction of new AI modules for revenue cycle management, patient marketing, and payroll.

Further bolstering its strategic direction, Dr. Richard Park, the visionary founder and former CEO of CityMD, has joined Nitra's Board of Directors. Dr. Park's extensive operational experience, honed through the successful growth and eventual $8.9 billion acquisition of CityMD by VillageMD (Walgreens), will be invaluable as Nitra scales its platform. His current role as co-founder and Managing Partner at Ascend Partners further highlights his deep understanding of the healthcare landscape. This appointment, coupled with the recent funding, positions Nitra to accelerate its AI development and expand its footprint across thousands of healthcare practices nationwide, fulfilling its mission to empower medical professionals by streamlining their back-office operations.

Leading practices such as Bay Area Retina Associates, Southern Vitreoretinal Associates (SVA), Elase Medspa, PhyNet Dermatology, Brandywine Urology, and Empower Aesthetics are already leveraging Nitra's capabilities. As Adarsh Bhatt, General Partner at Comma Capital, noted, the initial fintech entry point has evolved into a much larger opportunity to build the definitive AI-native operating platform for healthcare providers. This latest funding round is set to deepen that platform, expanding the critical capabilities providers rely on daily to navigate the complexities of modern healthcare administration.