AT A GLANCE

Medallion
Seamless.AI
2020
Founded
2015
San Francisco, California
HQ
Columbus, Ohio
$85 million
Total Raised
Bootstrapped (minimal outside funding)
Derek Lo
Founder
Brandon Bornancin
Health Tech
Type
Sales Tech
Private
Status
Private

FUNDING HISTORY

Medallion

Seed2020
$4M raised
Series A2021
$22M raised
Series B2023
$60M raised

Seamless.AI

Bootstrapped2015
$0 raised

BUSINESS MODEL

Medallion

Medallion charges healthcare organizations a subscription based on the number of providers being managed. The platform handles initial credentialing (verifying a new provider) and ongoing monitoring (ensuring licenses stay current, no disciplinary actions arise).

The value is measured in speed and cost savings. Credentialing departments at hospitals can cost millions annually in staff salaries.

Medallion replaces much of that manual labor with software. Faster credentialing also means faster time-to-revenue — a doctor who can start seeing patients weeks earlier generates revenue weeks earlier.

The platform also manages payer enrollment — getting providers into insurance networks — which is a related but separate bureaucratic process that's equally painful and equally automatable.

Seamless.AI

Seamless.AI operates on a freemium subscription model. The free plan gives users 50 credits (contact lookups) per month.

The Basic plan costs $147/month for 250 credits. The Pro plan offers more credits and advanced features.

Enterprise pricing is custom for large sales organizations.

Each "credit" represents one contact lookup — a verified email, phone number, or both. Power users on sales teams can burn through hundreds of credits per day during prospecting sessions, which drives upgrades to higher-tier plans.

The company has been largely bootstrapped, which is unusual for a tech company at its scale. Bornancin has spoken about deliberately avoiding venture capital to maintain control and build profitably.

Revenue reportedly exceeded $100 million ARR by 2023, built almost entirely on product-led growth and word-of-mouth within the sales community.

HOW THEY STARTED

Medallion

Derek Lo was working in healthcare operations when he encountered credentialing — the process of verifying that healthcare providers have the proper licenses, education, training, and malpractice history to practice medicine. Every doctor, nurse, and therapist in America must be credentialed before they can see patients at a new facility or join an insurance network.

The process was absurdly manual. It involved contacting medical schools, state licensing boards, previous employers, malpractice insurers, and the DEA — often by fax or mail.

A single credentialing verification could take 90-180 days. Healthcare organizations employed entire departments of people doing nothing but chasing down verifications through a patchwork of government databases, phone calls, and paper forms.

Lo founded Medallion in 2020 to automate this process. The platform connects directly to primary sources — state licensing boards, the National Practitioner Data Bank, DEA databases, and medical school registries — and pulls verification data automatically.

What used to take months of manual work now takes days or weeks.

Seamless.AI

Brandon Bornancin was a sales rep at IBM and then Oracle, and he lived the daily grind of B2B sales — spending hours searching for prospect contact information that was usually outdated by the time he found it. He'd buy lead lists from data brokers for thousands of dollars, only to discover half the phone numbers were disconnected and a third of the emails bounced.

He founded Seamless.AI in 2015 in Columbus, Ohio with a straightforward premise: use AI and web crawling to find accurate, real-time contact information for any business professional. Instead of static databases that go stale the moment they're compiled, Seamless.AI searches the live web — company websites, social profiles, SEC filings, press releases, job postings — and verifies contact data in real time.

The early product was scrappy but effective. Sales reps could search for a prospect by name, company, or title and get a verified email address and phone number in seconds.

No buying bulk lists. No stale data.

Just real-time lookups. The product spread through sales teams the way most sales tools do — one rep finds something that works and tells everyone else on the team.

HOW THEY GREW

Medallion

Medallion grew by targeting healthcare organizations that were drowning in credentialing backlogs. Telehealth companies scaling rapidly during COVID were the first ideal customers — they needed to credential hundreds of providers quickly across multiple states, and the manual process couldn't keep up.

The platform expanded to hospitals, health systems, and staffing agencies that manage large provider networks. Each customer type faces the same fundamental problem: too many providers to credential, too few staff to do it, and too many regulatory requirements to track manually.

Integration partnerships with HR systems and practice management platforms drove distribution. When Medallion plugs into a health system's existing tech stack, the switching costs climb and the data integration deepens.

Seamless.AI

Seamless.AI grew almost entirely through the sales community. Bornancin is a relentless content creator — posting daily on LinkedIn, publishing books on sales methodology, hosting podcasts, and speaking at events.

His personal brand became the primary marketing channel for the company.

The freemium model drives viral adoption within sales teams. One rep signs up for free, finds accurate contact data, and tells five colleagues.

Those colleagues sign up, and soon the entire sales floor is using Seamless.AI. Managers then upgrade to paid plans to get more credits and team management features.

The Chrome extension was a distribution masterstroke. By working directly on LinkedIn — where most B2B prospecting happens — Seamless.AI inserted itself into the daily workflow of millions of sales professionals.

Right-click on a LinkedIn profile, get their email and phone number. The convenience is addictive.

THE HARD PART

Medallion

Healthcare is notoriously slow to adopt new technology. Decision-makers at hospitals and health systems are risk-averse and procurement cycles are long.

Selling enterprise software to healthcare organizations requires patience, compliance certifications, and relationships that take years to build.

The credentialing ecosystem involves hundreds of independent data sources — each state licensing board has its own system, formats, and response times. Building and maintaining connections to all of these sources is operationally complex and requires constant updating as boards change their processes.

Competition from established credentialing verification organizations (CVOs) and legacy software providers means Medallion is displacing existing processes and vendors, not entering a greenfield market.

Seamless.AI

Data accuracy and freshness are constant battles. People change jobs, get new phone numbers, and switch email providers.

A database that's 90% accurate still means one in ten calls reaches the wrong person, which frustrates users. Competitors like ZoomInfo, Apollo, and Lusha all face the same challenge, and differentiation comes down to who has the freshest data.

Privacy regulations are a growing risk. GDPR in Europe and various US state privacy laws (California, Virginia, Colorado) restrict how personal contact information can be collected and used.

If regulations tighten further, the entire contact data industry could face existential challenges. Being a company that sells people's phone numbers and email addresses puts you squarely in the crosshairs of privacy advocates.

ZoomInfo is the 800-pound gorilla. With $1.3 billion in annual revenue, a massive database, and deep enterprise relationships, ZoomInfo is the incumbent that Seamless.AI is trying to disrupt.

ZoomInfo has more data, more features, and a bigger sales team. Seamless.AI competes on price (significantly cheaper) and accessibility (easier to use, freemium), but winning enterprise deals against ZoomInfo is hard.

THE PRODUCTS

Medallion

Medallion Credentialing — automated primary source verification of healthcare provider qualifications including licenses, education, training, and malpractice history. Medallion Monitoring — continuous license and exclusion monitoring that alerts organizations when a provider's credentials change or expire.

Medallion Payer Enrollment — automated management of insurance network applications and re-enrollments across multiple payers. Medallion Provider Network Management — a unified platform for managing the complete provider lifecycle from recruitment through credentialing to ongoing compliance.

Medallion Analytics — dashboards showing credentialing pipeline status, bottleneck identification, and compliance metrics.

Seamless.AI

Seamless.AI Search Engine — the core product that finds verified emails, direct dial phone numbers, and cell phone numbers for any business professional in real time by searching across the web. Buyer Intent Data — signals showing which companies are actively researching products in your category, so sales reps can reach out at the right moment.

Data Enrichment — bulk enrichment of existing CRM records, filling in missing contact details and updating stale information automatically. Writer by Seamless.AI — an AI writing assistant that generates personalized sales emails, LinkedIn messages, and cold call scripts based on prospect data.

Chrome Extension — a browser plugin that lets sales reps find contact information while browsing LinkedIn, company websites, or any webpage.

WHO BACKED THEM

Medallion

Sequoia Capital led the Series B. Optum Ventures (part of UnitedHealth Group) invested — a significant strategic validation from the largest healthcare company in America.

Tiger Global and GV (Google Ventures) participated in earlier rounds.

Seamless.AI

Seamless.AI has been largely bootstrapped. Brandon Bornancin has emphasized building profitably without diluting ownership.

Some limited outside investment has been reported but the company has not disclosed significant venture rounds. The bootstrapped approach from Columbus, Ohio — far from Silicon Valley — is a core part of the company's identity and narrative.

MORE COMPARISONS