Golub Capital helped Tebra finance USD 72 million to expand its operating system for independent healthcare providers. The additional funding increases the company’s estimated value to USD 1 billion, turning the California business into a unicorn.
Additionally, Golub Capital provided USD 65 million in expansion finance for the company’s 2021 merger, bringing its total investment over the previous year to more than USD 137 million.
CommonFund, HLM Venture Partners, OpenView Venture Partners, StepStone Group, Stripes Group, Montreux Equity Partners, Toba Capital, Transformation Capital, and Vivo Capital are the additional investors.
Tebra has various projects in mind for its most recent financing. The business will attempt to increase its customer base while also addressing chances for sales growth within its current clientele. Tebra intends to add additional products to its portfolio to support its growth strategy.
What the founder has to say:
Tebra co-founder and Chief Executive Officer Dan Rodrigues:
“With this additional investment from Golub Capital, Tebra will be able to advance its goal of enabling better healthcare by assisting independent practitioners in providing patients with modernized treatment. We will simultaneously expand our market and introduce new solutions, providing digital tools and support to even more doctors.”
All about Tebra:
Tebra, a company founded by Dan Rodrigues, Chief Innovation Officer Luke Kervin, and Chief Corporate Development Officer Travis Schneider, aims to modernize and streamline the healthcare industry with solutions built within a single platform. It provides telehealth, scheduling, insurance billing, patient payments, electronic health records (EHR), and more.
Tebra offers a collection of cloud-based solutions to make it easier for medical practitioners to handle their daily tasks. According to the business, more than 100,000 offices that treat more than 90 million patients in the United States use its software.
Its product portfolio’s initial set of tools focuses on care delivery. The startup’s technologies can be used by a medical practice to manage prescriptions, arrange patient electronic health records, and do other duties. According to Tebra, its software lets customers spend less time on administrative tasks.
The startup provides a second set of software solutions to enhance patient satisfaction. Medical offices can use Tebra’s keys to create an online gateway where patients can more easily complete chores like making appointments and completing documents. Additionally, a survey platform enables medical clinics to get patient feedback.
The remaining software solutions concentrate on helping medical practices with their marketing. The business may assist a medical practice in creating a responsive website that performs effectively on computers and mobile devices. It also claims to make a range of associated marketing chores, such as internet advertising, simpler.
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