Forbes Names Kareo One of America's 100 Most Promising Companies
Kareo Inc., the leading provider of cloud-based medical office software and services for small medical practices, today announced it has been named to Forbes’ list of America’s 100 Most Promising Companies for the second consecutive year.
Listed at number 65 overall and in the top three healthcare technology companies, Kareo was identified by Forbes as one of the top privately held, high-growth companies in the US. Each year Forbes evaluates hundreds of companies to find those with the winning combination of demonstrated growth in customers and employees, strong leadership, financial results, valuable partnerships, and overall market potential.
“It’s an honor to be recognized among this outstanding group of growth companies for the second year in a row,” said Dan Rodrigues, CEO and founder of Kareo. “Like many of our peer companies on the Forbes list, Kareo has a bold company vision. We believe that cloud-based technology and services can fundamentally improve the success of physicians in building successful, patient-focused medical practices and appreciate Forbes highlighting our success as we work to make our vision a reality.”
Kareo’s recognition as a 2014 Forbes Most Promising Company follows a year of significant company achievements and milestones, including:
- The rapid growth of Kareo Practice Management, the company’s cloud-based solution that serves more than 20,000 medical providers who processed over $6 billion in billing claims through Kareo’s platform last year.
- The launch of Kareo EHR, the company’s free electronic health record solution that generated more than 5,000 sign-ups in its first ten months.
- The introduction of Kareo’s revenue cycle management solution, Kareo Billing Services, which is already leveraged by more than 1,000 providers across 46 specialties nationwide.
- The successful raising of $29.5 million in financing that highlighted the confidence within the investment community around the company’s rapid growth and market leadership.
- The successful purchase and integration of Ecco Health, Kareo’s first acquisition, enabling the company to expand its product line while extending its revenue cycle management expertise across a range of specialties.
- The growth of Kareo’s leadership team with the hiring of Tom Giannulli, MD as its Chief Medical Information Officer, Rob Pickell as its Chief Marketing Officer, Amyra Rand as its Vice President of Sales, David Mitzenmacher as its Vice President of Customer Success, and Nitin Somalwar as its Vice President of Engineering.
Over the course of four months, Forbes reviewed hundreds of applications. The final assessment was based on sustainable growth in sales and hiring, quality of management team and investors, margins, market size, and key partnerships. After verifying sales numbers, speaking with each company and debating their merits, Forbes produced a final ranking of the top 100 companies.