Substrate
PrivateLast Round
Convertible Debt
Jun 30, 2026
Total Funding Raised
$3.23M
Momentum
Top 5%
of companies Caplight tracks
Company Overview
Substrate operates in Healthcare & Life Sciences and is based in San Francisco, California. Its latest recorded funding round was an Accelerator round in June 2024.
Substrate is a healthcare technology company that develops AI-native agents to automate revenue cycle management tasks for medical billing teams.
Sector
Healthcare & Life Sciences
Verticals
Revenue Cycle, Medical AI, Workflow Automation, NLP & Conversational AI
Business Model
B2B
Customer Profile
Subscription SaaS, Usage-Based SaaS
AI Layer
Application
Historical Pricing
Historical view of private secondary pricing and transaction trends.
Substrate Comparables
Compare Substrate with similar companies based on industry and business-model similarity.
| Company | Similarity | Market Cap |
|---|---|---|
| Claim Health | 88% | |
| Boolient | 88% | |
| Aegis Health | 87% |
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Substrate Funding Rounds
Historical fundraising activity
| Round | Date | Amount Raised | Valuation | Investors | Sources |
|---|---|---|---|---|---|
| Convertible Debt | Jun 30, 2026 | ||||
| Accelerator | Jun 1, 2024 | ||||
| Convertible Debt | Mar 20, 2024 | ||||
| Follow-on Offering | Dec 19, 2023 |
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Key People
Founding team and executive leadership
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Substrate Investors
Notable investors and investment history
| Investor | Rounds |
|---|---|
| Spanish Society for Technological Transformation | Convertible Debt |
| Y Combinator | Accelerator |
Market signals
Structured signals derived from secondary market and firmographic data.
- Jun 30, 2026
$45.1M raised, led by Spanish Society for Technological Transformation.
- May 19, 2026
Monthly visitors grew 171% MoM, reaching 1.3K.
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Recent news
Latest coverage and updates
- launchesNov 2, 2026
On Nov 2nd '26, Substrate AI, Inc. releases the Substrate Claim Status MCP, an authenticated connector that lets AI clients check claim status through Claude, ChatGPT and other assistants.
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Substrate Filings
Explore SEC and related filing metadata, where available.
| Type | Date | Amount Offered | Amount Sold | Filing | Pages | Download |
|---|
Filing documents are not displayed on this public page. Request access to learn about available coverage.
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Frequently Asked Questions
Common questions about Substrate's valuation, stock price, and market status.
Is Substrate a public or private company?
Substrate is a private company.
What is the current stock price of Substrate?
Substrate is a private company, so its shares have no public market price. Caplight tracks Substrate's secondary market activity and provides MarketPrice™ estimates of its share price to Caplight users.
How much is Substrate worth (valuation)?
Valuation information for Substrate is not publicly available.
Can I buy Substrate stock?
Substrate shares may be available on secondary markets subject to transfer restrictions. Caplight facilitates secondary market transactions for accredited investors.
When was Substrate's last funding round?
Substrate's most recent funding round was Convertible Debt on June 30, 2026.
Who are the main investors in Substrate?
Key investors in Substrate include Spanish Society for Technological Transformation, Y Combinator.
Will Substrate IPO soon?
No public IPO plans have been announced for Substrate.
How can I track Substrate secondary market activity?
Caplight tracks bids, offers, and trades in Substrate's shares on secondary markets.