A note from Dan Rodrigues, Founder and CEO of Tebra.

Independent healthcare is under pressure. Burnout is rising, margins are shrinking, and private practices are being swallowed by consolidation at a historic pace. Yet every day, we meet clinicians who refuse to give up on the model of care they believe in.

One of them is Dr. Arjun Reyes, a psychiatrist who has served more than 5,000 clients in Southern California. After nearly 30 years in practice, he was close to burning out under the weight of documentation, administrative work, and a caseload that kept growing.

Then he adopted Tebra’s AI Note Assist — and got 3 to 5 hours of his day back.

“[AI Note] could keep me from retiring,” he told us. “I get time back to research treatments, care for my patients, and take care of myself.”

His practice is now:

And they’re expanding to a second location. This is the kind of transformation AI can make possible. This is why we raised $250 million.

The financing consists primarily of equity capital led by Hildred, as well as a debt facility provided by J.P. Morgan. The round was over-subscribed and included significant participation from existing investors Toba Capital, Transformation Capital, and HLM Venture Partners. 

Investors aren’t betting on hype. They’re backing a platform already deployed across 140,000+ providers with proven AI tools that meaningfully reduce administrative burden and improve the economics of private practice.

As Andrew Goldman, co-founder and managing partner at Hildred put it:

“Tebra has built the rare platform that doesn’t just digitize records, but actually performs work on behalf of the provider … an AI-enabled ‘System of Action’ is the critical unlocking mechanism this market needs to restore profitability and refocus on patient care."

This raise is not about valuation or headlines. It’s about acceleration.

Every dollar is going into three areas you’ve consistently asked us to solve:

We’re expanding AI Note Assist and building new automation across clinical documentation and patient communications.

Proven impact so far:

Our goal: Give clinicians time back — for patients, for their families, and for themselves.

Billing complexity is one of the top reasons practices struggle financially. We’re accelerating work on AI for:

Our goal: Stabilize cash flow and protect margins for practices and billing companies that cannot afford revenue leakage.

Independent practices can’t outspend hospital networks. They shouldn’t have to.

We’re expanding AI Review Replies, AI Review Insights, and scaling Tebra’s Care Connect marketplace to help small practices grow with less effort.

Proven impact so far: AI Review Replies customers have seen a 45% increase in website clicks — automatic patient acquisition powered by AI.

Independent practices deliver better outcomes, lower costs, and more human care. But the economics are stacked against them:

AI can’t fix every structural issue in healthcare. But it can fix the parts that providers shouldn’t have to shoulder alone.

We’re building for one group: the independent practice and the billing companies who support them.

You’ve told us what you need. We’ve listened. And now we have the capital to build it faster.

Here’s what we commit to:

Thank you for trusting us. Thank you for the work you do.

We’re just getting started.

— Dan Rodrigues
Founder & CEO, Tebra

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