Cloud-Based Medical Software Company Kareo Attracts $10 Million Investment

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Kareo, a provider cloud-based practice management and medical billing software for physicians in the United States, announced the closing of a $10 million equity investment led by Greenspring Associates with participation from OpenView Venture Partners, Western Technology Investment (WTI) and angel investor Travis Kalanick. Kareo will use the new capital to aggressively expand its sales and marketing initiatives targeting small physician practices, enhance its product offering, and support its channel partnerships, said the company.

Kareo delivers subscription-based software over the Internet that helps physicians in small practices manage their business and get paid by insurance companies and patients.