A software as a service (SaaS) startup focused on the healthcare industry, CareStack, raises a new investment round worth $22.5 million.
The startup’s cloud-based software provides a variety of management services for the dental industry, including clinics and dentists offices, that allow users to manage customer information, records, billing, and other aspects of the process.
“CareStack enables offices to move away from the complexities of using multiple fragmented solutions and manage everything through one complete modern dental software,” Co-founder and CEO at CareStack, Abhilash Krishna said, Livemint reported. “We are relentlessly innovating through frequent software upgrades, growing list of third party integrations and advanced workflow automation capabilities.”
The startup has headquarters in both Florida and Trivandrum, and currently has a team of approximately 370 employees, so far. CareStack has plans to use part of the new funding for hiring plans.
Since its founding in 2015, the startup has raised a total of $74.1 million. The startup’s software provides a variety of services including scheduling, communicating with patients, booking procedures, keeping forms digital, payments and insurance aspects, as well as analytics services, among other options.
Investors in the Series C funding round include Steadview Capital, Delta Dental of California, Accel Partners, Eight Roads and F-Prime Capital, among others.
“In a short span of time CareStack has established as the market leader in Dental practice SaaS vertical in North America,” a partner at Accel, Shekhar Kirani said, Livemint reported. “This growth is fueled by the passion and commitment of the CareStack team.”
Parts of the current investment round will also be put toward increasing the company’s revenue and other plans for business growth and scaling.
(Picture courtesy: Saasworthy.com)
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