Kerala- and US-based health-tech startup Good Methods Global Inc has raised Series A funding led by venture capital firm Accel Partners, said a press statement.
The startup will use the capital to step up its sales efforts and product adoption, and to ramp up product engineering and talent acquisition. It, however, didn't disclose the amount raised.
As part of the transaction, Shekhar Kirani, partner at Accel India, will join the Good Methods board.
Good Methods has engineered a cloud-based practice management platform for the health and wellness industry in the US. The first area of focus is dentistry, where its clientele includes large dental groups and multi-location practice chains.
“We are disrupting the status quo of how technology is leveraged by dental clinics in North America. Our vision is to be the number one SaaS platform with enterprise-grade tools to improve care coordination and practice profitability,” said Abilash Krishna, CEO of Good Methods.
Including this round, Good Methods has raised over $9 million so far.
“The consolidation happening in dental businesses in the US is pushing such a disruption in the healthcare technology space. GMG [Good Methods] has entered the market at the ripe time,” said Kirani.
The Good Methods team is spread across Thiruvananthapuram in Kerala, and Florida and Texas in the US.
Started in 2015 by Krishna, Arjun Satheesh, Jayasooryan KV, Kevin Cook and Varun Nelson, it now employs 150 people. It is looking to hire 100 more employees within the next six months.
According to a report by consulting firm Global Market Insights, the dental practice management software market is expected to grow to $2.2 billion by 2023.
In December last year, Accel Partners had raised $450 million under a new fund to make seed and early-stage investments in Indian startups. The firm has been an early backer of leading Indian internet companies including Flipkart, BookMyShow, Myntra, FreshDesk and BlueStone, among others.
Kerala has been seeing some traction in the startup space with a bevy of ventures emerging on the scene. Already home to more than 300 technology startups, the state is poised to become the largest hub for entrepreneurial activity in southern India.