Silicon Valley Bank increased CareCloud‘s secured line of credit for to $25 million to support future growth. The term of the line of credit was also extended by two years to Oct. 13, 2025. CareCloud is a provider of healthcare technology solutions for medical practices and health systems. It will use the increased line of credit for growth and general corporate purposes.
“We have had the pleasure of working with the CareCloud team since 2017 and have witnessed their tremendous growth over the years,” Tom Gordon, managing director of life science and healthcare at Silicon Valley Bank, said. “We have been serving the innovation economy for 40 years, and enjoy working with businesses like CareCloud, supporting their continued growth.”
“Our strong, virtually debt-free, balance sheet enabled us to grow our revenues at a 34% compound annual growth rate and our adjusted EBITDA by 58% since 2017, without diluting our common shareholders,” Bill Korn, CFO of CareCloud. “Today’s increase in our credit line positions us for further growth, as we launch new services and lead the industry in the adoption of digital healthcare technology. We appreciate Silicon Valley Bank’s partnership and belief in our business model.”
