CareCloud Reports 3rd Quarter Growth, 440 New Customers

Cloud-based health IT vendor CareCloud has announced the gain of 440 new customers in the third quarter, as well as the company's 15th straight quarter of triple-digit revenue growth.

The third quarter also saw CareCloud secure an additional $9 million in funding from private equity firm Adams Street Partners, bringing the company's Series B funding to $29 million and total funding to $54 million.

"The third quarter had CareCloud bring to market significant new functionality to our electronic health record application that tackles the core workflow and productivity issues that have been plaguing physicians for years," said lbert Santalo, chairman and CEO of CareCloud, in the news release. "This new offering has already created a spike in new subscribers to our platform, with more than 60 percent of clients now selecting both our cloud-based EHR and practice management applications. We expect this trend to increase given the growing 'rip and replace' underway by many medical groups moving to more modern and integrated cloud-based systems like CareCloud's."

As of Oct. 1, CareCloud's platform was being used by 3,700 providers in 47 states, supporting more than 5.5 million unique patients.

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