CareCloud Receives $25.5 Million Debt Financing Commitment

June 26, 2014

4:30 pm

Miami-based healthcare technology provider CareCloud announced today that it has received a $25.5 million debt financing commitment from Hercules Technology Growth Capital, Inc.

“This commitment will enable us to accelerate the expansion of our technology solutions and further our strategic objective of providing the industry’s first modern cloud-based platform for healthcare,” says R. Scott Lentz, CFO of CareCloud.

According to The Starting Gate, CareCloud last summer announced it closed its Series B round of more than $29 million, bringing total VC investment in the company to $55 million.

The cloud-based platform currently supports thousands of providers in 48 states and manages more than $3 billion in annualized accounts receivables on behalf of its clients. The company reported record revenue increases during the first quarter of 2014, representing its 17th consecutive quarter of year-over-year triple-digit revenue growth. During the quarter, CareCloud also signed a record of over 170 new medical groups to its cloud-based platform.

 

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Camila has been heavily active in South Florida’s tech startup community, where she is a co-host of a local radio show called pFunkcast. Camila previously worked at Greenpeace International and the Organization of the Prohibition of Chemical Weapons (OPCW) in various communication roles. A proud Brazilian who spent most of he life in Peru, she is passionate about traveling and documentaries.

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