Newport Beach-based Tebra, which provides digital services to independent healthcare practices, announced it has closed more than $72 million in funding at a valuation greater than $1 billion.
Golub Capital, a Los Angeles-based private equity firm with $45 billion in capital under management, led the investment that includes both growth equity and debt financing. The capital infusion will accelerate Tebra’s plans including expanding market share, launching a combined product line and advancing new branding.
The company, which currently has more than 1,000 employees, was formed last year with the merger of Kareo and PatientPop.
“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 modernized care to patients everywhere,” Tebra Co-founder and Chief Executive Dan Rodrigues said in a statement. “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.”
