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Irvine-based Kareo Inc. said today that it has received a $55.4 million investment.

Kareo makes cloud-based software for small medical practices.

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The company said in a statement that it plans to use the funds to accelerate its product line development and expand market access.

San Francisco-based Montreux Equity Partners led the investment with participation from Menlo Park-based Silver Lake Partners and all of Kareo’s existing investors.

Privately held Kareo had about $35.7 million in revenue in the 12 months ended in June 2014, according to Business Journal data. The company does not disclose earnings or other financial data.