CareCloud, the Miami-based healthcare-technology company, announced Thursday that it has received a $25.5 million debt financing commitment from Hercules Technology Growth Capital, a specialty finance company that provides senior secured loans to venture capital-backed technology companies.
CareCloud, now with about 270 employees, provides cloud-based practice management, electronic health records and medical billing software and services. One of the leading venture companies in South Florida, CareCloud last summer announced it closed its Series B round of more than $29 million, bringing total VC investment in the company to $55 million from firms such as Intel Capital, Norwest Venture Partners, Tenaya Capital and Adams Street Partners.
CareCloud, founded in 2009 by CEO Albert Santalo, said that in the first quarter the company signed more than 170 new medical groups to its cloud-based platform, which now serves about 1,200 clients in 48 states.
Hercules Technology Growth Capital focuses on companies in technology-related markets, including technology, biotechnology, life science, and energy and renewable technology industries, at all stages of development. Since its inception in December 2003, Hercules has committed more than $4.2 billion to more than 270 companies, Hercules said in a news release.
Read an earlier Miami Herald Q&A with Albert Santalo here.
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