Tebra, a Healthcare OS Startup, Raises $72 Million at $1 Billion Valuation
Tebra raised $72 million, backed by Golub Capital, to expand its healthcare provider operating system. The new funding raises the company's valuation to $1 billion, transforming the California business into a unicorn.
Tebra was formed last year by merging health technology companies Kareo and PatientPop. Both organisations focus on clinical, financial, and growth technology for medical offices and are cloud-based.
Since the merger, Tebra has created and released a two-way product interface that permits both platforms to communicate scheduling and physician availability information, as well as review appointment information.
Tebra has now raised a total of $137 million to accelerate its merger strategy, increase its market share, and introduce a merged product range with new branding.
Tebra Co-founder and Co-CEO Dan Rodrigues said: "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 modernised care to patients everywhere."
“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.
Tebra, a company founded this year by Rodrigues, Co-CEO Luke Kervin, and Co-CEO Travis Schneider aims to expedite and modernise healthcare by integrating solutions on a unified platform. It provides electronic health records (EHR), scheduling, insurance billing, patient payments, and telemedicine services, among others.
According to the statement, the company has more than 800 providers employing the integrated operating system and supports over 100,000 clinicians providing treatment to 90 million patients. Tebra employs almost 1,000 employees.