Thiruvanthapuram-based CareStack announced that it has raised $22.5 million in funding. The round had participation from Accel Partners, SteadView Capital, Eight Roads, Delta Dental of California, and F-Prime Capital.
The dental care startup intends to utilize the raised funds to increase its operations and recruit talent.
Previously, CareStack had raised $28 million in 2019, and with the latest funding, it has raised a total of $60 million.
Abhilash Krishna, CEO and Co-founder of CareStack said that for a long time, dental practices have unsuccessfully applied various software solutions to manage daily operations. “CareStack enables offices to move away from the complexities of using multiple fragmented solutions and manage everything through one complete modern dental software,” he said.
“We are relentlessly innovating through frequent software upgrades, a growing list of third-party integrations, and advanced workflow automation capabilities. Our vision is to lead the digital transformation of the dental industry and enable offices to operate at their highest potential. ”
With the fresh funding, CareStack proceeds to strengthen India’s growth story in the SaaS landscape. The statement revealed the company doubled its revenue in 2020 and had 370 employees globally. It is now looking to double its workforce and increase the annual revenue by four times.
CareStack’s cloud dental software provides a comprehensive solution to handle all the major functions of dental practice: appointments, treatments, claims, payments, patient communication, reporting, and analytics. With an all-in-one solution, CareStack enables dental teams to simplify work, promote patient relationships and earn more time to focus on patient care and practice growth.
“In a short time, CareStack has established as the market leader in the dental practice SaaS vertical in North America. This growth is fuelled by the passion and commitment of the CareStack team. Accel is excited to be part of it.” said Shekhar Kirani, Partner at Accel.
The startup also offers a smooth onboarding process that minimizes the confusion linked with software transition. This is done by drawing in specialists with a deep knowledge of office workflows to manage the implementation process.
“It’s always great to see a SaaS startup from India become an emerging market leader by focusing on solving a global problem. The fact that existing investors funded the entire round is an indication of the impressive value growth of CareStack ” said Girish Mathrubootham, a personal investor in CareStack and CEO of Freshworks.
CareStack is offering seamless, innovative solutions in the dental space. The latest funding would help the startup in scaling its business.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box at the right side of this page.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For publishing an advertorial article about your company on our website, drop an email at firstname.lastname@example.org