Kareo Adds $55M In Funding

Irvine-based Kareo, the developer of cloud-based software used to manage medical practices, said this morning that it has raised $55.4M in a new funding round. The funding was led by Montreux Equity Partners, and also included Silver Lake Waterman and the company's existing investors. Kareo, which is led by Dan Rodrigues, offers up cloud-based software used by small and other independent medical practices to manage all of their billing and operations. The company said the funding goes towards further product development and to expand its market access.