Tellus, a Deerfield Beach, FL-based provider of Electronic Visit Verification (EVV) technology solutions, closed a $9 million Series B growth capital financing.
The round was led by Carroll Capital with participation from additional investors.
CIBC Bank USA provided the debt capital financing through its CIBC Innovation Banking team.
The company intends to use the funds to accelerate its contracts from States, Managed Care Organizations (Payers) and thousands of providers as it expands its Electronic Visit Verification (EVV) business nationally.
Led by CEO Brad Levine, Tellus provides an end-to-end EVV solution which includes:
– a point-of-care mobile app,
– Administrator Console,
– Claims Console,
– Business Intelligence and
– Reporting and Data Aggregation.
Tellus allows all third-party software tools to integrate with its open platform.
Client portfolio includes:
– state Medicaid departments,
– managed care organizations,
– health care provider agencies, along with
– Agency Management Systems,
– third-party EVV vendors,
– financial management, and
– other health care information technology providers.