CareCloud raises $25.5 million in debt financing

Posted Jun 27, 2014

CareCloud is a company that offers cloud-based practice management, electronic health records (EHR), and medical billing software to medical groups.

The company has raised $25.5 million in new venture debt financing from Hercules Technology Growth Capital. Based in Miami Springs, CareCloud has now taken a total investment of $81.9 million since it launched in 2009.

CareCloud raised $56.4 million in venture capital funding before $25.5 million in debt capital. CareCloud will be using the new funding round to promote and expand its technology platform.

?This commitment will enable us to accelerate the expansion of our technology solutions and further our strategic objective of providing the industry?s first modern cloud-based platform for healthcare,? stated CareCloud CFO Scott Lentz.

CareCloud added more than 170 medical groups as customers. Its platform engages more than 8 million patients.