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 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊 YouTube: https://youtu.be/Vd4HHQ1l9mM 𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒 • Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery • VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com • Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery • Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery • Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev Follow Sourcery for the latest updates! https://www.sourcery.vc Disclosure Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
