Florida and India-based CareStack, a cloud-based technology platform for the dental industry, has raised $16 million in a funding round led by Accel, F-Prime Capital Partners, and Eight Roads Ventures, it announced on Friday.
As part of the funding, F-Prime Capital Partners’ partner Carl Byers has joined CareStack’s board of directors along with Accel Partner’s Shekhar Kirani, it said in a statement.
The company will use the funding to expand its cloud-based platform that is helping dental practices across the United States better connect patients, employers, and dentists.
“With less than 20 per cent of dental practices in the cloud today, CareStack’s platform represents a transformation of what is possible for these customers,” said Byers, who served as the chief financial officer of athenahealth prior to joining F-Prime Capital Partners in 2012.
Besides, the company also announced opening of a new technology development office in the Cambridge Innovation Center, based in Cambridge, Massachusetts. This new office will help support CareStack’s existing global operations as well as bolster current product development projects and scale professional services capabilities, the statement added.
Operated by Good Methods Global Inc, CareStack raised $7.6 million in funding led by Accel Partners in May last year.
In August, Accel also led a $30 million Series C funding for customer engagement platform Narvar, and a $12.2 million Series A round for Metro Bikes, a rental start-up for scooters and motorcycles, along with Sequoia Capital India.