Kareo Gets $29.5M For Cloud Medical Office Software

The surge in Southern California, cloud-based software investments continues today, as Irvine-based Kareo said this morning that it has raised $29.5M in a growth capital financing. The company--which develops cloud-based, medical office software--said the funding was led by Greenspring Associates, and also included OpenView Ventures and Silicon Valley Bank. Kareo is led by Dan Rodrigues. The company said it will use the funding for sales, marketing, and to enhance its software. Kareo joins a number of large, enterprise software financing in the last month, including a round for enterprise invoice processing software developer Chrome River last week, a big investment for enterprise call marketing software developer Invoco, funding for project management software-as-a-service provider Mavenlink, just to mention a few. More information »