Today, CareCloud proudly announced an oversubscribed Series C funding round of $31.5 million. This striking show of support came from new investors PNC, First Data, and Blue Cloud Ventures as well as our prior investors, including Norwest Venture Partners, Intel Capital, Tenaya Capital and Adams Street Partners and a debt financing agreement with Wellington Financial.
Seven years ago, we started CareCloud with a vision to modernize health technology for physicians and patients. Today, our health technology platform is delivering on the promise of cloud technology — connecting fragmented clinical and financial data and making that information actionable through beautifully designed tools for both physicians and patients.
Today, CareCloud has the platform and drive to transform the patient experience. In this new era of value-based care, we are modernizing medical groups by delivering technology that empowers them to adapt to today’s standards as well as changes not yet visible on the horizon. We’ve created a briefing report available for download that analyzes five key trends shaping the new medical economy for medical group leaders, investors and innovators.
As medical groups reimagine the end-to-end patient experience, they are exploring how to leverage best practices from retail, banking, and other consumer-facing industries. Higher-performing practices are looking beyond basic EHR systems to build out their technology platforms with sophisticated tools for revenue capture, workflow automation, and patient engagement as they compete within an increasingly consumer-driven marketplace. With the support and experience of financial technology services leaders who share our vision for the future of healthcare technology, this is exactly what CareCloud intends to deliver.
This is a very exciting time in our company’s history and for our clients, the medical group leaders who are using technology in new ways to deliver value, outcomes and transform the health experience for their patients. Thank you to our clients, our investors and the incredible team at CareCloud for being with us on this journey. You can read more details about our Series C funding news here.