McLean-based Verato Inc., which provides cloud technology to consolidate medical records, has raised $10 million in Series C financing.
Existing investors Bessemer Venture Partners and Columbia Capital led the round, with participation from Blue Heron Capital and California Health Care Foundation, Verato announced Monday.
The new funding will accelerate the startup’s expansion in a few areas, CEO Mark LaRow told me. Two-thirds of that capital will back sales and marketing hires, with the remainder supporting engineering and customer service growth.
“We’ve reached that point in a startup’s life where the product has proved that it works,” he said. Now, he added, “our plan is to blanket the country.”
Verato, founded in 2012, on Monday opened an office in Mérida, Mexico — its second location after its Tysons headquarters. It’s an engineering hub with 10 new hires to focus solely on product development. LaRow said immigration issues are making it tougher to find engineering…Read the full story from the Washington Business Journal.