Startup profile · funding coverage
Tennr funding, valuation and investors
AI that automates healthcare fax and document workflows for referrals and prior auth.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series C
$101M · June 2025
Latest known valuation
$605M
Series C · June 2025
Total disclosed equity funding
$156M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · New York, NY
Overview
Tennr automates manual healthcare administrative workflows — reading faxes and unstructured documents to process patient referrals, prior authorizations, claims auditing, and intake. Founded in NYC by Trey Holterman, Diego Baugh, and Tyler Johnson, Tennr raised an $18M Series A in March 2024 led by Andreessen Horowitz. It followed with a $37M Series B led by Lightspeed in October 2024 and a $101M Series C in June 2025 led by IVP at $605M valuation, with a16z, GV, and ICONIQ participating.
Why Tennr is interesting
Healthcare still runs on faxes — a16z-led Series A became a $101M Series C at $605M valuation as Tennr's RaeLM model cleared referral backlogs.
Product & use cases
Tennr uses proprietary vision-language models (RaeLM) to read faxes and medical documents, extract data, and automate end-to-end referral and revenue-cycle workflows.
- Specialty clinics automating inbound referral fax processing
- Prior authorization document extraction and submission
- Health systems reducing patient access delays from paperwork backlogs
Key facts
- Series C (Jun 2025): $101M at $605M valuation led by IVP
- Series A (Mar 2024): $18M led by a16z
- Proprietary RaeLM vision-language model for medical documents
- Fixes 'referral black hole' from fax-based workflows
Funding history (newest first)
Series C
2025-06 $101M Valuation: $605MSeries B
2024-10 $37MSeries A
2024-03 $18MInvestors in our directory
Funds linked from Tennr's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Deep healthcare document AI trained on fax-native workflows — meets providers where data actually arrives, not where EHRs wish it lived.
Healthcare AI automation is crowded but fax-to-action remains unsolved at scale. Tennr's risk is EHR vendors and payers building native intake — speed of provider adoption determines winner.
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Olive AI (historical) adjacent
Healthcare automation; Olive wind-down left market gap.
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Notable Health adjacent
Intake automation; overlapping referral use cases.
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Manual offshore coding/intake incumbent
Labor-intensive; Tennr replaces with AI at scale.
Notable stories
- a16z's investing post noted Tennr founders spent months on data pipelines before shipping — betting workflow depth over generic LLM wrappers (a16z, Mar 2024).
Industries
FAQs about Tennr
Practical answers founders, operators, and investors typically search for.
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