CareCloud acquired $20 million in Series B funding today. Tenaya Capital led the investing roster which included existing investors Norwest Venture Partners and Intel Capital. The funding round brings CareCloud's total funding to $44 million.
CareCloud is a cloud-based technology developer with products utilized in the commercial and healthcare sector. The additional funding is said to boost the company's growth, and will support its attempt to expand operations and distribution across all sectors of business.
Tenaya Capital, lead investor, will entrust Stewart Gollmer into CareCloud's board of directors.
Albert Santalo, CareCloud's Chairman and Chief Executive Officer said in a statement that: "This investment validates CareCloud's mission to aim at the heart of the challenge by leveraging the power of the cloud to foster innovation and ultimately replatform the industry. "
Commenting on Tenaya Capital's entry to the board, Santalo said that he is "very pleased to welcome Tenaya Capital to our strong base of investors."
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