San Francisco-based Assort Health has raised $120 million in a Series C round led by Menlo Ventures, a deal that values the patient access software company at $1.2 billion and lifts its total funding to more than $222 million.
Investors in the round included Lightspeed Venture Partners, Felicis, First Round Capital, Chemistry, Tau Ventures, Quiet Capital and NFL legend Joe Montana, along with Menlo. JP Sanday, a partner at Menlo Ventures, will join Assort’s board, while fellow partner Matt Murphy will serve as a board observer.
An NFL Hall of Fame quarterback, Montana is the founding partner of Liquid 2 Ventures. The firm, established in 2015, has backed over 750 pre-seed and seed technology startups, focuses heavily on enterprise software, AI, deep tech, and consumer internet. Typically, it invests amounts ranging from $250,000 to $1 million.
Liquid 2 Ventures’ current portfolio includes Anduril, Applied Intuition, and Stoke Space. Its notable exits include, GitLab, FanDuel, Momentus and Bear Flag Robotics.
Menlo Ventures, which has invested over $8 billion, was among the early backers of Anthropic, the company behind Claude AI. Its other major investments include Abnormal AI, Pinecone, Chai Discovery, Chime, Betterment, Poshmark, Rover, and Suno. The firm’s notable exits include Uber, Roku and Siri.
The financing gives Assort fresh capital to push beyond its roots in voice AI and toward what it describes as an “agentic operating system” for the patient journey. The company said the new money will support expansion into broader health system operations, including large community-based organizations and academic medical centers. John Muir Health is among the systems working with the company on ambulatory operations.
Assort says its platform has handled more than 190 million patient interactions and is designed to manage both front-end engagement and back-end operational work across voice, text and web. The company’s tools cover scheduling, intake forms, referrals, document handling, medication refills, eligibility checks, lab requests and payments.
The platform now centers on four products: Concierge for inbound calls, triage and scheduling; Activate for patient outreach, including referral follow-up and no-show recovery; Orchestrate for operational tasks that feed data back into electronic health records; and Empower, an AI copilot for staff handling complex patient access issues. Those products are tied together through what Assort calls Patient Journey Memory, a shared record intended to preserve context across interactions.
Jeffery Liu, the company’s co-founder and co-CEO, said in a statement that specialty care creates challenges many AI vendors underestimate. He said the company’s proprietary model is designed to improve as it is deployed, allowing it to move beyond call handling and into broader automation of the patient experience.
The latest raise comes after a rapid funding run. Assort closed a $76 million Series B in October, after a $22 million Series A in April 2025 and a $3.5 million seed round in 2024.
The deal also reflects rising investor interest in healthcare AI focused on administration rather than diagnosis. Reuters has reported that major providers and cloud vendors are pushing into agentic tools that handle tasks such as scheduling, verification and documentation. Google Cloud has said a sizable share of healthcare executives are already adopting AI agents in production or planning to devote more of their future AI budgets to them.
Assort is betting that the biggest payoff lies not in a chatbot that answers phones, but in software that can quietly coordinate the entire patient access workflow.
[Noah Wire Services helped in the writing of this article.]