Nitra Raises $187 Million as AI-Native Platform for Healthcare Practices Surpasses $1 Billion in Processing Volume

Revenues Grew 740%+ in 2025 and Targets $4 Billion in Annualized Processing Volume in 2026
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CityMD Founder Dr. Richard Park joins Board
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Watch the founder video and blog post

NEW YORK, March 10, 2026 /PRNewswire/ -- Nitra, the leading AI-native, all-in-one operating platform for healthcare practices and their back offices, today announced $187 million in financing across its Series A and Series B rounds, venture debt, and warehouse facility, bringing the company's total capital raised to $205 million and total equity raised to $90 million.

The funding follows a breakout year for Nitra, which grew revenues 740%+ in 2025, surpassing $1 billion in annualized processing volume as healthcare practices increasingly expand uses of AI beyond clinical decision support and scribing into administration, finances and inventory, and the back office.

The financing includes $72 million of new equity across a $50 million Series B round and a previously unannounced $22 million Series A completed in August 2025 from investors including Actions Capital, AppWorks, Comma Capital, Dunamu & Partners, Era Funds, New Enterprise Associates (NEA), Pantera Capital, and Sazze Partners.

The financing also included participation from AAF, Gaingels, Hyphen Capital, K8, Mana Ventures, Necessary Ventures, PIDC/Uni-President, Purestone Silks, SignalRank, Simu Liu's Markham Valley Ventures, Soma Capital, and others.

The company also secured $20 million in venture debt from Avenue Capital Group and an expanded $95 million warehouse facility from Treville Capital Group and Encina Lender Finance, LLC.

Dr. Richard Park, founder and former CEO of CityMD, joined Nitra's Board of Directors. CityMD merged with Summit Health, and the combined company was acquired by VillageMD (owned by Walgreens) for $8.9 billion in 2023. Today, Dr. Park oversees Ascend Partners as the co-founder and Managing Partner. His appointment adds deep operational healthcare experience as the company scales its platform.

Healthcare is a nearly $5.9 trillion industry in the United States, yet an estimated 25% of spending goes toward administrative costs. Medical practices still rely on fragmented systems for payments, procurement, inventory, scheduling, and insurance verification.

Launched in 2024 by Tim Hwang (CEO) and Jonathan Chen (President), Nitra's platform embeds AI agents directly into the operational backbone of practices. Nitra gives physicians, who are overwhelmed by administrative overload, complete control over their back office and administrative functions. Nitra's all-in-one platform for healthcare practices now includes:

• Financial Automation, offering a Visa-powered expense card, expense management, bill pay, patient payment processing, and AI agents for healthcare accounting automation;
• Commerce and Inventory, providing direct access to tens of thousands of biopharmaceuticals and medical equipment products in partnership with firms like McKesson and Medline. Nitra's AI procurement agents handle suppliers, negotiate prices, onboard vendors, execute purchases, and monitor inventory end-to-end, and
• Patient Management, launched this month, powers voice AI agents for patient scheduling and insurance eligibility checks. The system integrates scheduling, benefits verification, and patient communication into the broader operational stack, reducing administrative burden for healthcare practices.

In 2025, the company grew by over 740% from $4 million of annualized revenues to over $33 million in a single year. This growth was powered by a platform that is now used by thousands of doctors in over 700 clinics and processed over $1 billion in annualized volumes across its platform. In December of 2025, Nitra supported upwards of $9 million in high-stakes, patient-critical biopharma and medical purchases for physicians in a single day.

The company is on track to cross over 3,000 clinics, more than $150 million of annualized revenues, and over $4 billion in annualized processing volumes in 2026. As part of its growth, the company has announced that headcount is expected to grow from 50 people last year to over 200 by the end of 2026 and plans to launch additional AI modules in revenue cycle management, patient marketing, and payroll/staffing. With this raise, Nitra plans to accelerate AI development, expand its engineering team, and scale its operating system across thousands of healthcare practices nationwide.

"We're on a mission to serve the people that serve our communities and help doctors save time and money," said Tim Hwang. "Practices are running critical workflows across disconnected systems that were never designed to work together. Nitra brings those layers together into a single AI-native operating system that helps healthcare practices run their operations more efficiently."

Nitra has attracted some of the most prominent healthcare practices in the country, such as Bay Area Retina Associates, Southern Vitreoretinal Associates (SVA), Elase Medspa, PhyNet Dermatology, Brandywine Urology, and Empower Aesthetics.

"Nitra is creating a new category of platform for healthcare practices," said Adarsh Bhatt, General Partner at Comma Capital. "From the beginning, we viewed the fintech entry point as the wedge into a much larger opportunity to build the AI-native operating platform for healthcare providers. Since our seed investment, the Nitra team has consistently executed on that vision. As someone who regularly speaks with clinicians and practice owners, it's clear there is a strong demand for modern financial and operational infrastructure purpose-built for healthcare practices. This round positions Nitra to deepen that platform and expand the capabilities providers rely on every day."

"Providing $20 million in venture debt reflects our conviction in the Nitra team and the company's momentum," said Dan Holman, Senior Portfolio Manager for Avenue Capital Group's Growth Lending Strategy. "Tim Hwang and Jonathan Chen are exceptional founders with a strong track record of building and scaling ambitious platforms, and we believe Nitra is well positioned to become critical infrastructure for healthcare practices."

Nitra previously raised its Seed round in 2022 from investors including Andreessen Horowitz, NEA, Pantera, KB Financial Group, Jerry Yang/AME Cloud Ventures, Gold House Ventures, Primer Sazze, Will Smith and Keisuke Honda's Dreamers VC, Sparklabs, Expa, Era, Comma Capital, Dunamu and Partners, etc. and others.

About Nitra

Nitra is an AI-native operating system for healthcare practices to run their business and back office. The platform spans finance, procurement, a medical supplies marketplace and patient administration, automating workflows like payments, purchasing, inventory, scheduling, insurance verification, and patient communication. By embedding AI directly into its infrastructure, Nitra unifies these functions into a single system, reducing manual administrative work and improving operational visibility.

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SOURCE Nitra