Cut 90% of clinic administration with AI! U.S. healthcare startup Nitra’s annual revenue surged by 725%, and the founder is of Taiwanese descent.

Taiwanese-American entrepreneur Jonathan Chen founded the healthcare startup Nitra, utilizing AI to streamline administrative and procurement processes in U.S. clinics. The company recently completed $187 million in funding, with annual transaction volume surpassing $1 billion, led by a Taiwanese engineering team.

Visiting a doctor in the U.S. is not easy, and navigating insurance procedures is even more arduous. clinic administrative staff must rely on fax machines from 20 years ago, broken accounting software, and endless Excel spreadsheets to ensure insurance claims are processed smoothly.

"I once had severe eczema, and just making an appointment to see a doctor was very difficult. Filling out insurance documents and data afterward took a lot of time," said Nitra co-founder Jonathan Chen.

This is the problem Nitra aims to solve. Nitra offers a one-stop platform for administrative, procurement, and payment workflows in medical clinics. In March 2026, it completed $187 million (about NT$5.98 billion) in fundraising and financing, with annual transaction volume exceeding $1 billion.

Looking at Nitra’s list of investors, you’ll notice a strong Taiwanese influence: AppWorks (Taiwan’s accelerator), Goh Chung-Li, president of China Leasing, and Uni-President Group. Chen is himself a Taiwanese-American, and from the early days of the team’s formation, he decided to establish Nitra’s engineering team in Taiwan.

In 2013, Chen and his elementary school classmate, Tim Hwang, another co-founder of Nitra, founded FiscalNote, a SaaS platform for policy and market intelligence. Using AI and big data, it helps highly regulated enterprises and organizations track, predict, and manage global policy and regulatory risks. FiscalNote ultimately went public on the New York Stock Exchange in August 2022.

During the pandemic and after achieving wealth through the company’s IPO, why did the two choose to abandon stability and jump into the healthcare sector, an area they had no background in? Chen’s long-term experience with eczema treatment became a key entrepreneurial catalyst. He recalls that the pandemic exposed the low efficiency and fragmentation of the U.S. healthcare supply chain. He and Tim also realized that healthcare is an extremely fragmented, heavily regulated, and urgently in need of modernization market.

"Many people questioned whether we understood healthcare, but during FiscalNote, a quarter of our clients were in the broader healthcare sector. We understand the complex regulations across states. More importantly, many physician entrepreneurs who understand healthcare often lack software and fintech expertise."

Before starting the business, Chen visited hundreds of doctors and enlisted advisors like the founder of CityMD, a chain of urgent care centers in the U.S., to gain deep insights into the healthcare industry. Only then did he embark on this new venture.

Using three key tools to connect clinic cash flow, revenue grew over 7 times annually

Nitra’s products include three: Nitra Platform, NitraMart, and the latest AI agent product.

Nitra Platform focuses on procurement and payment workflows. By using a dedicated Nitra Card to purchase medical supplies, clinics enjoy at least 2.2% cash back, along with free access to Nitra’s expense management and automatic billing (BillPay) software.

Once clinics get used to this financial system, Nitra launches the second step: NitraMart (medical procurement marketplace). Previously, clinics had to deal with a dozen different suppliers, but Nitra directly partners with supply chain giants like McKesson, even applying for special drug distribution licenses itself.

Now, clinics can simply “one-click order” on a single platform, with Nitra taking commissions ranging from 8% to 40%.

Image source: NitraNitraMart, Medical Procurement Marketplace. Clinics can place orders for multiple suppliers’ products with one click on this platform. Nitra takes commissions from 8% to 40%.

Nitra’s latest product is an AI agent. The U.S. insurance reimbursement system is extremely complex, with insurers often finding hundreds of reasons to deny or delay payments. Nitra’s voice and process AI can now automatically answer calls in the background, schedule appointments, verify insurance eligibility, and even generate post-surgery lists to bill insurers. “This nearly reduces 90% of administrative workload in clinics,” Chen said.

This product strategy led Nitra to generate only $4 million in revenue in 2024, which grew to $33 million in 2025 (a 725% increase), and they aim to challenge $150 million in 2026. Nearly 800 clinics are already using it, initially targeting high-end cosmetic, aesthetic, and dermatology practices. As AI products mature, they plan to expand aggressively into dental and general family medicine markets.

It’s worth noting that Nitra’s engineering team is not in Silicon Valley but in Taiwan. While recruiting talent abroad is cost-effective, Chen, as a Taiwanese-American with a sense of mission toward his homeland, believes that Taiwanese software engineers are severely underestimated in ability. "Singapore is smaller than Taiwan, but their influence in the international startup scene is significant. I want Nitra to be a platform showcasing Taiwan’s software strength to the world."

Currently, Nitra has about 30 engineers based in Taiwan, with only 2 in the U.S. They develop the financial infrastructure supporting $1 billion in transactions and AI models handling complex insurance logic.

With a local team and Taiwanese funding, Nitra is also eyeing the Asian market. Chen revealed that although Taiwan’s national health insurance system is highly mature and its backend administrative pain points are less severe than in the U.S., they are exploring how to introduce pure AI applications into healthcare settings in Taiwan, Japan, and Korea, with Taiwan serving as a key base.

Nitra

• Founders: Jonathan Chen and Tim Hwang
• Products/Technology: A one-stop AI-integrated healthcare operations platform designed for U.S. clinics, including automated financial systems, procurement and inventory management, and AI diagnosis management
• Achievements: Recently announced $187 million in funding, with past investors including AppWorks, Goh Chung-Li, president of China Leasing, SparkLabs Taiwan, etc.

Image source: Digital Age, Photography by Song Mingzong. Nitra co-founder Jonathan Chen is a Taiwanese-American serial entrepreneur who founded the healthcare AI platform Nitra.

• This article is reprinted with permission from 《Digital Age》
• Original title: “Taiwanese Entrepreneur Jonathan Chen Sets Out Again! U.S. Healthcare Startup Nitra Uses AI to Cut 90% of Clinic Admin, Achieves 725% Revenue Growth”
• Original author: Zeng Linghuai