Newport Beach-based healthcare software company Tebra closed a new $250 million equity and debt financing to accelerate its AI and automation R&D. The financing consists primarily of equity led by a New York-based private equity investment firm. Hildred, as well as a credit facility provided by J.P. Morgan. The round was oversubscribed and included participation from existing investors Toba Capital, Transformation Capital and HLM Venture Partners.
Tebra said it will use the new funding to deploy AI-based capabilities in electronic health records, billing and payments, patient experience and practice marketing. The company serves more than 140,000 private healthcare providers.
“This investment constitutes a direct mandate to remove the ‘pressure’ placed on private practices,” said Dan Rodriguesfounder and CEO of Tebra, in a press release. “AI represents the great equalizer for the industry, solving the systemic challenges that drive burnout and destroy profitability across the patient and revenue journey. Our confidence – and that of our investors – is rooted in our unique ability to deeply integrate AI into an all-in-one, easy-to-use platform purpose-built for independent practices. We look forward to partnering with the Hildred team to strategically evolve our platform.”
Founded in 2021, Tebra offers an all-in-one electronic health records platform designed exclusively for independent healthcare practices. Tebra’s platform minimizes administrative burden on private practices by automating manual tasks, reducing common errors and simplifying workflows for practice owners and their teams.
“Tebra has built the rare platform that doesn’t just digitize records, but actually does work on behalf of the provider. We believe Tebra’s vision for an AI-driven ‘system of action’ is the essential unlocking mechanism this market needs to restore profitability and refocus on patient care. We are excited to partner with Dan and the Tebra team to accelerate this transformation,” said Andrew Goldmanco-founder and managing partner of Hildred, in a press release.
The information in this article comes from Tebra.