CareCloud Raises $25.5M in Venture Debt Financing

Cloud-based clinical and practice management software provider CareCloud has announced $25.5 million in debt financing from Hercules Technology Growth Capital.

"We are thrilled to have the support and confidence of a leading technology investor like Hercules as we continue to execute on our aggressive business plan," said R. Scott Lentz, CFO of CareCloud, in a news release. "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."

CareCloud has experienced significant growth recently, with 17 consecutive quarters of revenue growth and 170 new medical groups signed on during the first quarter of 2014.

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