Tebra, a Newport Beach, CA-based provider of a digital platform for independent healthcare practices, raised $72M in growth equity and debt financing at over $1 Billion valuation.
The round was led by Golub Capital. Tebra’s institutional investors also include CommonFund, HLM Venture Partners, OpenView Venture Partners, StepStone Group, Stripes Group, Montreux Equity Partners, Toba Capital, Transformation Capital and Vivo Capital.
The company intends to use the funds to accelerate its merger plans including expanding its market share, developing and launching the combined product line and advancing the new branding.
Led by CEO Dan Rodrigues, Tebra provides digital tools and support to enable independent healthcare practices to attract patients, deliver care, get paid, and operate. Built through the combination of Kareo and PatientPop, the offering includes modern websites, messaging and scheduling, telehealth, EHR, care delivery, practice management, billing, payments, and analytics. Since the companies merged in late 2021, the company has built and launched a two-way product integration that allows both platforms to share scheduling information and physician availability. The integrated solution also reviews appointment information and sends out surveys for better reputation management. Over 800 providers now use the combined operating system, and the company plans to grow significantly both into their existing base and the healthcare industry at large.
The company currently has over 1,000 employees and supports over 100,000 providers who are delivering care to more than 90 million patients in the U.S.