India: Health-tech startup CareStack raises $16m led by Accel, F-Prime, Eight Roads

Photo: Bloomberg

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.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.