Florida, US-based CareStack, a cloud-based technology platform for the dental industry, has raised $28 million in Series B round led by hedge fund Steadview Capital, along with US-based dental plan system Delta Dental.
Existing investors including F Prime Capital, Eight Roads Ventures and Accel also participated in the round, the company said in a statement.
CareStack, run by Good Methods Global Inc, will deploy the funds to expand its customer footprint and drive product innovation aimed at upgrading dental offices around the world, the statement added.
The company claims its flagship solution is a complete clinical and business management platform on the cloud. The solution reportedly manages all major functions of a dental practice.
The software-as-a-service- (SaaS) based dental platform leverages analytics and automation to improve patient dental care, CareStack said.
“Simply put, CareStack is rewriting the rules of what an intelligent solution should look like for dentistry — for groups, dental support organisations (DSOs) and solo practitioners. We are excited to partner with leading firms, as we continue to accelerate the adoption of our platform and offer never-before-seen capabilities for practice growth,” said Abhi Krishna, chief executive officer, CareStack.
“Technology adoption has been traditionally slow in the U.S. dental industry. CareStack’s service offerings have the potential to revolutionize the industry in the years to come,” said Ravi Mehta, managing director of Steadview Capital.
CareStack, founded in 2015 by Abilash Krishna and Mark Huzyak, is an enterprise practice management solution designed for dental practices. The company has offices in Orlando, US and Trivandrum, India.