Candid Health secured $120 million for its AI-enabled revenue cycle management platform, extending the push to automate coding, documentation, and claims workflows. The Series D round was led by Sixth Street Growth with participation from Oak HC/FT, 8VC, and Y Combinator. The financing signals that payers and providers are increasingly treating RCM productivity and billing accuracy as measurable levers for cost control and cash flow stability. For biotech-adjacent healthcare operators, the funding highlights where buyers are shifting budgets—toward systems that can reduce denials and improve throughput rather than standalone analytics tools.