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Tebra

“Can a merged EHR + practice-growth platform become the vertical operating system — including embedded payments and AI — for independent US medical practices?”

Founded2021
HQCorona del Mar, California, United States
Total raised$387M
Latest round$250M equity + debt (December 2025)
IndustryVertical SaaS / Healthcare
The story

Tebra was formed in November 2021 through the merger of Kareo (cloud EHR / practice management) and PatientPop (practice growth / patient acquisition), unifying clinical, billing, and patient-experience tooling under a single brand for independent US medical practices. Since 2023 the company has increasingly leaned on embedded payments (Tebra Payments powered by Worldpay, plus a Stripe-based Patient Collect option) and AI Smart Staff as its main expansion vectors. The $250M 2025 round from Hildred with J.P. Morgan debt cements its positioning as the vertical operating system for independent US healthcare practices.

Last 12 months
2025-12
Product timeline
2021
Kareo and PatientPop merge to form Tebra, an all-in-one practice success platform.· acquisition
2022
Brand transition from Kareo/PatientPop to Tebra begins.· pivot
2024
Launch of Tebra AI Smart Staff (AI Note Assist, AI Review Replies, AI Message Tagging).· banking
2025
Closed $250M financing round led by Hildred with J.P. Morgan debt to accelerate AI R&D.· banking
The stack
2 layers disclosed in Tebra’s embedded-finance stack
Payments / PSP
WorldpayStripe
KYC
in the full report
Accounting gap: minor
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.