Private Practice Platform Tebra Secures $250M to Accelerate AI Innovation

Over-subscribed round led by Hildred will accelerate AI development across clinical documentation, billing automation, and practice marketing.

Tebra, the all-in-one EHR+ platform trusted by over 140,000 private healthcare providers, today announced it has closed $250 million in new equity and debt financing to accelerate its R&D in AI and automation.

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. This broad syndicate of support underscores confidence in Tebra’s vision to level the playing field for independent providers squeezed by rising overhead, declining reimbursements, and expanding competitive pressure.

Tebra will use the new funding to rapidly deploy AI-powered capabilities across every aspect of practice management, including electronic health records (EHR), billing and payments, patient experience, and practice marketing.

Leveling the Playing Field for Private Practice

Tebra is ushering a transformation in healthcare software, building edge-of-industry solutions that reduce the administrative drag on private practices. Going beyond the stale “System of Record” offered by traditional EHRs, Tebra’s EHR+ platform delivers a “System of Action” that automates manual tasks, reduces common errors, and simplifies workflows for practice owners and their teams.

“Independent practices are the backbone of the U.S. healthcare system, yet they have been historically underserved by legacy technology that adds to their administrative burden rather than alleviating it,” said Andrew Goldman, Co-Founder and Managing Partner at Hildred. “Tebra has built the rare platform that doesn’t just digitize records but actually performs work on behalf of the provider. We believe Tebra’s vision for an AI-enabled ‘System of Action’ is the critical unlocking mechanism this market needs to restore profitability and focus back to patient care. We are thrilled to partner with Dan and the Tebra team to accelerate this transformation.”

A Mandate to Eliminate the ‘Squeeze’

“This investment is a direct mandate to eliminate the ‘squeeze’ on private practices,” said Dan Rodrigues, Tebra Founder and Chief Executive Officer. “AI represents the great equalizer for the industry, solving the systemic challenges that cause burnout and destroy profitability across the entire patient and revenue journey. Our confidence — and that of our investors — is rooted in our unique ability to embed AI deep into an all-in-one, easy-to-use platform purpose-built for independent practices. We look forward to partnering with the Hildred team to strategically scale our platform.”

Tebra to Rapidly Deliver AI Advancements

Tebra plans to use the investment to accelerate product development and deliver immediate and scalable AI automation across practitioners’ most painful operational and financial workflows. The company’s AI thesis focuses on three key pillars of investment:

• AI for Provider Efficiency: Accelerating the rollout of tools like AI Note Assist and automated patient communications. These tools handle time-consuming tasks like clinical documentation and messaging, immediately returning hours to providers for patient care. In the second half of this year alone, Tebra’s AI Note Assist was used by private practices to generate more than half a million clinical notes, saving customers an average of 60% of documentation time per note.
• AI for Revenue Recovery: Deploying next-generation revenue cycle management (RCM) AI for automated coding, claims generation, and denial prevention. This technology directly accelerates payment, reduces accounts receivables, and eliminates the billing complexity that drains practice profitability.
• AI for Practice Growth: Leveraging AI to optimize the Patient Experience and Practice Marketing suite, including AI Review Replies, AI Review Insights, and the emerging Tebra Care Connect marketplace. Since its launch, AI Review Replies — which automatically generates responses to public-facing patient reviews — has driven a 45% increase in website clicks for customers using the solution.

A Sustainable Foundation for the Future

Tebra is now positioned with a profitable core business and a diversified Go-to-Market engine, ready to accelerate new customer acquisition and monetize its existing base of over 140,000 providers and 125M patient records. This investment ensures Tebra is positioned not only as a pure-play SaaS leader in a $20B+ market but also as a definitive disruptor leading the healthcare industry into a scalable, AI-powered future.

Kirkland & Ellis LLP served as legal advisor to Hildred. Jefferies served as exclusive financial advisor and Fenwick & West LLP as legal advisor to Tebra.

About Tebra

Tebra is the only all-in-one EHR+ platform built exclusively for independent healthcare practices. Designed to replace the clunky, fragmented tools built for corporate systems, Tebra connects EHR, billing, automation, telehealth, and marketing — so providers can spend less time on admin and more time with patients. More than 42,000 private practices trust Tebra to streamline operations, increase revenue, and reduce burnout — helping clinicians leave work on time and rediscover their purpose. Learn more at www.tebra.com.

About Hildred

Hildred is a healthcare-focused private equity firm that specializes in operationally intensive, control-oriented investments in lower middle-market companies. Hildred partners with innovative and growth-oriented management teams to build high quality businesses. The Hildred team possesses extensive experience across the healthcare industry, and seeks to leverage its unique blend of strategic, financial, commercial and operational acumen to drive strategic growth and create value for its portfolio companies and investment partners. Hildred currently has more than $3.50 billion in assets under management. For more information, please visit www.hildred.com and follow the Firm on LinkedIn.

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“Independent practices are the backbone of the U.S. healthcare system, yet they have been historically underserved by legacy technology that adds to their administrative burden rather than alleviating it."