OpenView Venture Partners Invests in Kareo, a Leading SaaS-based Medical Billing Platform

September 16, 2010

OpenView Venture Partners
announced its investment of $9.5M in Kareo, an Irvine-based SaaS business focused on offering small healthcare providers with an easy-to-use platform for practice management and medical billing. Kareo aims to accommodate a provider’s workflow and help them to get paid faster.

Kareo is just one example of emerging expansion stage companies in the healthcare IT space. Government incentives, relaxation of the Stark Laws, and a focus on compliance/audits have all resulted in a number of healthcare companies growing very quickly.

Kareo focuses on the ambulatory or outpatient segment of the market and the relationship between providers and payers (insurance companies). There are three core constituencies in the healthcare technology ecosystem:

– providers
– payers
– patients

Companies focus on different combinations of these stakeholders — some connecting providers and patients, some connecting payers and patients and so on.

This is only the beginning of the healthcare IT revolution and more venture capital investment in the sector is sure to come!

Chief of Staff/Director

Daniel was an Associate at OpenView Venture Partners where he took part in the investments in uSamp, Kareo, Prognosis Health, Mashery, NextDocs and Xtium. Currently, Daniel is Chief-of-Staff/Financial Strategy Director at <a href="">Anthem</a>.