Cloud Dental Software Startup CareStack raises $22.5 million from Steadview Capital & Others
Thiruvananthapuram and Florida-based cloud dental software startup, CareStack has raised $22.5 million in funding from Steadview Capital, Delta Dental of California, Accel Partners, Eight Roads, and F-Prime Capital.
This comes on top of the $28 million raised by the same investors in 2019, bringing the company's overall funding to more than $60 million.
CareStack is a comprehensive cloud-based dental software system that addresses the scheduling, clinical, billing, patient engagement, and monitoring needs of dental offices of all sizes, whether they are single locations or multi-site DSOs.
The new funding will be used to increase the company's activities, double its team size, and quadruple its annual sales, according to the company.
The six-year-old company offers a cloud-based customer engagement software system that allows dentists and clinics to handle appointments, procedures, claims, payments, patient contact, monitoring, and analytics. The startup allows dental organisations to realise the full potential of scale with built-in features for centralization, automation, and analytics.
CareStack helps dental teams to elevate patient relationships with clients and gain more time to concentrate on patient care by providing an all-in-one solution.
“For too long, dental practices have unsuccessfully used multiple software solutions bolted on top of traditional dental software to manage daily operations. CareStack enables offices to move away from the complexities of using multiple fragmented solutions and manage everything through one complete modern dental software. We are relentlessly innovating through frequent software upgrades, a growing list of third-party integrations, and advanced workflow automation capabilities," says Abhilash Krishna, chief executive officer and co-founder of CareStack.
According to the company, by 2020, CareStack would have doubled its revenue and increased its global workforce from 200 to 370 employees.
“In a short span of time CareStack has established as the market leader in Dental practice SaaS vertical in North America. This growth is fueled by the passion and commitment of the CareStack team. Accel is excited to be part of it." said Shekhar Kirani, partner at Accel.
CareStack's services have become even more valuable as the pandemic has prompted dental practices to migrate to the cloud in order to gain better access to practice data and improve the patient experience with contactless workflows for scheduling and payments, according to the company.
“It’s always great to see a software-as-a-service (SaaS) startup from India become an emerging market leader by focusing on solving a global problem. The fact that existing investors funded the entire round is an indication of the impressive value growth of CareStack " said Girish Mathrubootham, chief executive officer of Indian SaaS unicorn Freshworks, who has invested in his personal capacity in CareStack.
This comes on top of the $28 million raised by the same investors in 2019, bringing the company's overall funding to more than $60 million.
CareStack is a comprehensive cloud-based dental software system that addresses the scheduling, clinical, billing, patient engagement, and monitoring needs of dental offices of all sizes, whether they are single locations or multi-site DSOs.
The new funding will be used to increase the company's activities, double its team size, and quadruple its annual sales, according to the company.
The six-year-old company offers a cloud-based customer engagement software system that allows dentists and clinics to handle appointments, procedures, claims, payments, patient contact, monitoring, and analytics. The startup allows dental organisations to realise the full potential of scale with built-in features for centralization, automation, and analytics.
CareStack helps dental teams to elevate patient relationships with clients and gain more time to concentrate on patient care by providing an all-in-one solution.
“For too long, dental practices have unsuccessfully used multiple software solutions bolted on top of traditional dental software to manage daily operations. CareStack enables offices to move away from the complexities of using multiple fragmented solutions and manage everything through one complete modern dental software. We are relentlessly innovating through frequent software upgrades, a growing list of third-party integrations, and advanced workflow automation capabilities," says Abhilash Krishna, chief executive officer and co-founder of CareStack.
According to the company, by 2020, CareStack would have doubled its revenue and increased its global workforce from 200 to 370 employees.
“In a short span of time CareStack has established as the market leader in Dental practice SaaS vertical in North America. This growth is fueled by the passion and commitment of the CareStack team. Accel is excited to be part of it." said Shekhar Kirani, partner at Accel.
CareStack's services have become even more valuable as the pandemic has prompted dental practices to migrate to the cloud in order to gain better access to practice data and improve the patient experience with contactless workflows for scheduling and payments, according to the company.
“It’s always great to see a software-as-a-service (SaaS) startup from India become an emerging market leader by focusing on solving a global problem. The fact that existing investors funded the entire round is an indication of the impressive value growth of CareStack " said Girish Mathrubootham, chief executive officer of Indian SaaS unicorn Freshworks, who has invested in his personal capacity in CareStack.
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