Tim Hwang has spent his profession shifting between politics, coverage, and startups. He labored on Barack Obama’s 2008 presidential marketing campaign, studied public coverage at Princeton, and took his first firm, FiscalNote, public earlier than he turned 30. Now, on the helm of Nitra, a healthcare monetary and operational platform, he’s doing what he calls “the perfect confluence of everything I’ve worked on in the past.”
Nitra is an AI-native working platform constructed particularly for medical practices. Moderately than patching collectively separate instruments for billing, buying, scheduling, and insurance coverage verification, Nitra consolidates all of it right into a single system powered by AI brokers.
The corporate targets the executive layer of healthcare—the back-office work that consumes monumental time and prices inside clinics—and automates it finish to finish, from expense administration and accounting to affected person communications and claims submitting. It’s, in Hwang’s phrases, designed to switch the fragmented patchwork of software program that almost all practices at the moment depend on simply to maintain the lights on.
On Tuesday, Nitra introduced a $50 million Sequence B spherical, bringing its complete capital raised to $205 million. The funding comes alongside a milestone: the corporate’s platform has surpassed $1 billion in annualized processing quantity and crossed $33 million in annual recurring income as of December 2025, representing roughly eight-fold year-over-year progress. Greater than 700 clinics are actually stay on the platform.
“I think we’re probably in the first inning of our growth trajectory,” Hwang advised Fortune forward of the announcement. “I honestly believe we can get to a billion dollars in revenue in the next couple of years.”
A wedge into the again workplace
Nitra’s entry level right into a apply isn’t a pitch deck or a workflow audit. It’s a bank card. Designed particularly for physicians, the cardboard is linked to a backend suite overlaying expense administration, accounting integration, stock administration, and procurement. Hwang calls it a “Trojan horse.”
“They start swiping. They’re buying all their medical equipment, their surgical equipment. We’re categorizing all their accounting,” he defined.
From there, Nitra’s market—Nitra Rx and Nitra Mart—lets medical doctors purchase prescription drugs and specialty tools instantly by way of the platform. AI brokers then deal with the back-office orchestration: account reconciliation, insurance coverage declare submitting, scheduling, advantages verification, and affected person communications.
“We start very small with the doctor, build trust, get them on the card, get them on our bill pay, get them our accounting system, have them start ordering equipment from us, and then we start orchestrating all of that kind of back-office administrative work using our agents,” Hwang stated.
It’s a land-and-expand mannequin utilized to some of the administratively burdened industries within the nation. And the pitch is simple. “When you go into a doctor and ask how it’s going, most of them just throw up their hands and say they need help,” he added.
Docs overcome provide chain points—and AI fears
Hwang credit two forces for Nitra’s breakout progress final 12 months. The primary is tariff-driven provide chain strain. With pharmaceutical, surgical, and medical tools prices fluctuating sharply, practices are scrambling to regulate prices they beforehand didn’t have the instruments to trace.
“That 8% increase on surgical gloves, that 4% increase in syringes—it just sneaks up on them,” he stated.
The second is a broader shift in how physicians relate to expertise. As medical AI instruments develop into customary for scribing and determination assist, medical doctors have grown extra snug handing the reins of administrative work to software program.
The end result: Nitra is onboarding clinics at a tempo Hwang describes as day by day acceleration. “I just looked at my Slack channel, and we probably onboarded six or seven clinics just today,” he stated. He’s projecting the platform will scale from $1 billion in annualized processing quantity to roughly $4 billion by 12 months’s finish.
As a part of the announcement, Nitra can be bringing on Dr. Richard Park—founding father of CityMD and former government at Summit Well being+CityMD—to its board of administrators. Hwang known as Park “a legend in the healthcare space” who has had “one of the largest exits in healthcare history.” Past the credibility sign, Hwang sees Park as a bridge to doctor entrepreneurs who run their very own practices. “Many founder physicians really look up to Dr. Park as a role model for how he built up CityMD, how he built this whole category of urgent care,” he stated.
Why healthcare, why now
For Hwang, his time with Obama wasn’t only a job — it was a crash course in why healthcare is so onerous to repair. Watching policymakers wrestle with the Reasonably priced Care Act as a younger staffer confirmed him simply how deeply the system’s dysfunction runs, lengthy earlier than he ever thought of constructing an organization inside it. That early publicity, mixed with what he witnessed throughout COVID, is what in the end satisfied him that the issue was price a lifetime of labor.
Hwang traces his obsession with healthcare again to March 2020, watching CNN broadcast the disaster of private protecting tools provides and the overflows of sufferers in intensive care models. “When you strain the healthcare system like that, you see all the problems very quickly,” he stated. So he and co-founder Jonathan Chen determined their subsequent firm could be a 20-year undertaking within the largest business they might think about.
The numbers backed them up. Healthcare is now the one largest employer in america, and for a lot of People over 45, it’s their single largest family expense—surpassing hire and groceries. “It just shouldn’t be like that,” Hwang stated. “If we can unlock 10 to 20% more time for doctors across the country, that would be a tremendous impact on society.”
“From a business perspective, yeah, I do think Nitra is going to be a decacorn.”
