The idea for Arbital Health took shape in the summer of 2023, on a long walk in the hills above Palo Alto with Travis May. One question kept pulling us back: why hasn't value-based care succeeded at scale, despite 20+ years of effort, desire, and critical need?
Answering that question, and solving the problem behind it, became our obsession. Risk-based contracts are complex, the data are fragmented, and settlement lacks transparency. The market wasn't failing for lack of vision. It was failing for lack of infrastructure.
Three years ago today, on October 17, 2023, we founded Arbital Health to build that infrastructure. Our founding mission: accelerate the shift to value-based care by delivering the neutral platform that allows all stakeholders to manage, measure, and settle outcomes-based contracts with clarity and trust.
That mission still holds. Today it extends beyond value-based care to other forms of risk-based contracting across healthcare.
We came out of stealth in January 2024 and launched the Arbital Platform in Q3 2024. Since then, we have delivered:
- 12x ARR growth since the Arbital Platform launched, including 3x growth in 2026
- 6.5M patient lives managed on the platform (6x growth in 2026)
- 1,500 contract reconciliations completed (5x growth in 2026)
- $25 billion in medical spend managed (3x growth in 2026)
- A national payor and regional Blues plans signed in 2026
- One year of Arbital AI, now including Arbital AI Agents
- Two acquisitions of leading actuarial firms
- 75 team members
- Financing from Valtruis, Transformation Capital, Shaper Capital, and Healthy Ventures
Two pillars set Arbital apart: the industry's leading actuaries and a robust AI-powered platform. Neither works alone. Together, and with the network we are building around risk contracting, they position Arbital to become the transparent source of truth for how risk-based contracts are managed, measured, and settled.
And we're just getting started. This summer we launched Arbital Flex, our self-service actuarial AI solution for payors and providers. Last week we announced the first deployment of Actuarial AI Agents. We trained these agents on thousands of contract reconciliations and embedded our team's actuarial expertise in them. They move AI in this domain past chat-based answers to autonomous execution of the financial analysis that management of risk contracts demand at scale.
After founding and exiting two healthcare data startups, I set a high bar for jumping back in. I had three criteria: work with the best people, solve a large and complex data problem, and drive systemic change in healthcare.
Arbital Health clears all three for me and for the team joining me on this journey.
The infrastructure matters because of what it unlocks: risk contracting that finally scales, and financial results that align with better patient outcomes in a durable, measurable way.
The market is ready, the pain is acute, and the opportunity is immense. If you want to join the ride, we are hiring across our commercial, engineering, and actuarial teams.
Here's to a remarkable first three years and to many more to come.
