MIAMI, FL, October 5, 2010 – CareCloud, a provider of on-demand software and services for the healthcare industry, today announced it has closed a $5 million round of investment capital. Investors include a cadre of prominent entrepreneurs and business leaders. The Company has raised in excess of $7.8 million to date.
“We are delighted with the outpouring of support from our investors. They share our passion and vision to revolutionize the healthcare experience with our digital ecosystem,” said CareCloud President and CEO, Albert Santalo. “This funding is validation of the tremendous progress the company has made since closing its first round in January of 2010. We are experiencing explosive growth since our product launch in March of 2010, and we plan to use this capital to invest in our software development and service infrastructure while fueling additional growth.”
CareCloud offers a suite of web-based apps that allow physicians to manage their business and also allows them and their patients to communicate and collaborate with each other in real time across multiple points of care via the company’s web-based digital ecosystem. By leveraging the power of cloud computing to deliver technology-enabled services to healthcare providers, CareCloud is creating an integrated environment where all participants share a common commitment to reducing inefficiency and providing excellence in care.
CareCloud received global attention recently for winning top honors at IBM’s SmartCamp competition, an exclusive mentoring program through which IBM seeks to identify and support innovative new technology companies. As the winner of the Silicon Valley SmartCamp event, CareCloud will be competing against other winners from around the globe for the title of “World’s Smartest Startup,” as well as for the attention of many of the world’s most prominent venture capitalists.