[Techtaffy Newsdesk]

Kareo, a cloud-based medical office software provider for small medical practices, has closed a $20.5 million equity investment led by Stripes Group, with participation from existing Kareo investor Western Technology Investments.

This new funding is in addition to the $18 million previously raised, bringing Kareo’s total funding to more than $38 million.

Kareo will use the new capital to launch Kareo Billing Services, a technology-enabled revenue cycle management solution for small medical practices.

Image courtesy: Kareo