Kareo has received $15 million in mezzanine debt from Escalate Capital Partners, an institutionally backed mezzanine fund that invests in high growth companies in the technology, healthcare, and Software-as-a-Service (SaaS) industries. In 2014, Kareo has secured a total of $47 million in funding, reinforcing the company’s unprecedented growth and further enhancing Kareo’s role as the independent physician’s trusted partner.
“The shift toward consumer-driven care is continuing to gain momentum,” says Dan Rodrigues, founder and CEO of Kareo, “and we believe that independent practices are uniquely positioned to benefit from this trend and provide the most appropriate and highest quality care to patients. We are delighted to have the backing and confidence of Escalate as we further enhance our products to better support small practices.”
Kareo’s mission has been affirmed by its significant growth. The company has been consistently recognized as one of the fastest growing private companies in the U.S., realizing a 552 percent increase in revenue over the past three years.
The latest financing brings Kareo’s total capital raised to $90MM. New investor Escalate Capital Partners joins Kareo’s group of esteemed institutional investors, which also include OpenView Venture Partners, Greenspring Associates, Stripes Group, Silicon Valley Bank and Western Technology Investments.
For more about this latest investment in Kareo, read the full press release.