Candid Health raised $120 million for an AI revenue-cycle management (RCM) platform, expanding investment behind software aimed at streamlining billing and care operations. The Series D round was led by Sixth Street Growth with participation from Oak HC/FT, 8VC, and Y Combinator. While the product is not a therapeutic, the funding signals sustained capital allocation to health data infrastructure and automation that can improve real-world care delivery efficiency. In RCM, performance is typically measured through operational metrics such as reduced denials, faster throughput, and improved coding accuracy. For biotech and healthcare providers, tools that reduce administrative friction are increasingly viewed as part of scaling modern clinical operations.