Tebra raised $72 million led by Golub Capital to grow its operating system for independent healthcare providers. The fresh capital brings the company’s valuation to $1 billion, making the California startup a unicorn, according to a Thursday (July 7) press release.
Tebra was formed last year with the merger of health tech firms Kareo and PatientPop. Both companies are cloud-based and specialize in clinical, financial and growth technology for medical practices.
Since the merger, Tebra has developed and launched a two-way product integration that allows both platforms to share scheduling information and physician availability, while also reviewing appointment information.
The new capital brings Tebra’s total funds raised to $137 million as the company moves to accelerate its merger plan, grow its market share, and launch a combined product line with new branding.
“With this new investment from Golub Capital, we’ll be able to accelerate Tebra’s mission to unlock better healthcare by helping independent practices bring modernized care to patients everywhere,” Tebra Co-founder and CEO Dan Rodrigues said in the announcement.
“Simultaneously, we will broaden our market reach and launch new solutions, helping an even larger number of physicians with digital tools and support to attract new patients, get paid quicker, and operate their practice more efficiently,” he added.
Founded this year by Rodrigues, Chief Innovation Officer Luke Kervin and Chief Corporate Development Officer Travis Schneider, Tebra is striving to streamline and modernize healthcare with solutions integrated on its all-in-one platform. It offers electronic health records (EHR), scheduling, insurance billing, patient payments, telehealth and more.
The company has more than 800 providers using the combined operating system and serves over 100,000 providers delivering care to 90 million patients, according to the release. Tebra has a workforce topping 1,000.