Kareo Raises $10M For Medical Billing Software

Irvine-based Kareo, a developer of cloud-based practice management and medical billing software, announced today that it has raised $10M in an equity investment round. The round was led by Greenspring Associates, and also included OpenView Venture Partners, Western Technology Investment, and angel investor Travis Kalanick. Kareo, which was founded by Dan Rodrigues, offers up a software-as-a-service offering aimed at physicians in small practices, and which helps them manage their practice and collect payments from insurance companies and patients. The company said the new funding will go towards sales and marketing, enhancing its products, and also for channel partnerships. More information »