Commure Hits $7B Backed by GC, Sequoia, Morgan Stanley

Tanay Tandon, Co-Founder and CEO of Commure, joins Sourcery to break down the company's new $70M round at a $7B post-money valuation, led by General Catalyst with participation from Sequoia Capital, Morgan Stanley, and Kirkland & Ellis. With $750M raised to date, Commure now runs inside 500+ healthcare organizations, 3,000+ sites of care, and processes tens of billions of dollars in annual claims — with 85%+ of revenue cycle work completed without a human in the loop.

Tanay started the company at 18 out of his Stanford dorm room. Today, Commure has 1,200 employees across seven offices, supports 200M+ patient encounters a year, and has doubled ARR three years in a row. We get into the round, the use of General Catalyst's Customer Value Fund (CVF) for non-dilutive growth capital, why he believes point solutions will be wiped out, the Augmedix acquisition, the Summa Health partnership in Akron, the JPM flip-flops story, and his IPO plans.

Topics covered:

• The $70M / $7B round and why he didn't need the capital

• CVF and non-dilutive financing for go-to-market

• Building an AI-native OS for healthcare

• HCA, Tenet, Epic, and Meditech partnerships

• Why platforms beat point solutions

• Lessons from acquiring Augmedix

• What Alfred Lin, Hemant Taneja, and Teresa Carlson taught him

• The path to IPO

Tanay Tandon: https://www.linkedin.com/in/tanaytandon 

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

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YouTube: https://youtu.be/Vd4HHQ1l9mM

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