Navigating the Next Phase of Health IT: Valspring Capital Backs Cardamom’s Series A

We’re excited to announce our recent investment in Cardamom, a technology-forward health IT professional services firm purpose-built to help hospitals and health systems get more value from their core technology investments. Cardamom brings deep expertise in Epic, with a focused offering across managed services, revenue cycle management (RCM), and the thoughtful adoption of AI. As financial pressures on health systems continue to intensify, Cardamom is emerging as a critical partner, delivering measurable improvements in efficiency, revenue performance, and operational execution.

Cardamom stood out to us because of their pragmatic and strategic approach to AI. We spoke with dozens of health system leaders, and we consistently heard the same challenge: they’re inundated with new applications and AI solutions that promise transformation but rarely deliver. Organizations need help cutting through the noise and deploying AI that integrates cleanly with Epic and existing workflows. Cardamom acts as a trusted guide: helping prioritize the right use cases, implementing tools that drive measurable ROI, reducing operational friction, and ultimately supporting better patient and provider experiences.

Equally important is Cardamom’s relentless focus on efficiency at a moment when their customers need it most. Hospital margins continue to be compressed by rising labor costs and increasing levels of uncompensated care. This environment demands partners who are deeply aligned with the economic realities of healthcare delivery and who can help maximize returns on existing tech investments with an eye towards the future. Cardamom’s managed services model is designed to do exactly that - driving operational leverage across core platforms and adjacent applications while aligning incentives around outcomes, not just effort.

At the core of our conviction is the Cardamom leadership team. It’s rare that we at Valspring get the opportunity to back the same team, in the same market, building the next-generation solution for a category they helped define. We’ve known the Cardamom team for over 15 years, having previously backed them at Nordic Consulting, where they scaled the business into one of the most successful health IT services platforms in the market. Led by Vivek Swaminathan (CEO), Adam Dial (CCO), and Sriram Devarakonda (CTO), the team brings deep expertise from their time working together at Epic and Nordic. They’ve partnered with some of the most complex health systems in the country, know how to operate at scale, and have a proven track record of delivering sustained, high-impact outcomes. Their credibility with CIOs, CFOs, and clinical leaders is well earned — and a meaningful differentiator in the market.

We believe Cardamom is building the next generation of health IT services: one that combines elite domain expertise, scalable managed services, and responsible AI adoption to help health systems navigate today’s challenges and prepare for tomorrow. We’re thrilled to partner with the Cardamom team and look forward to supporting their mission to make healthcare more efficient, resilient, and patient-centered.