Sramana: So the medical billing companies were not the ones paying you? Dan Rodrigues: We sold our software as a monthly fee to the doctors. For us. the revenue was about activating licenses with the doctors via the medical billing offices. We were building out forecasts around a quicker adoption cycle. Doctors were not adopting
Sramana: How much did you raise in your first round? Dan Rodrigues: We raised $2 million. That was in 2005. Sramana: What is interesting in healthcare IT startups in that time is that the rest of the market had not figured out that it was a hot space. VCs realize that something is hot at
Sramana: You were working as a consulting developer for a small company to develop a medical front office management and billing solution. Did you decide to spin that out as a new company? Dan Rodrigues: As that project grew in scope, I started getting more and more excited about healthcare. I learned that the healthcare
Sramana: What did you do after you sold the company in 2000? Did you make enough to fund your next company? Dan Rodrigues: I made enough to take a few years off and fund my next venture, but not enough to retire on. After we sold that company, I teamed up with two of my
Sramana: You had some good work experiences while you were a student at the University of Washington. When you returned to California to attend UCLA, did you find similar opportunities? Dan Rodrigues: After I returned to Southern California to attend UCLA, I got involved in the computer science department there. I ended up meeting up
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Dan Rodrigues is the founder and CEO of Kareo. He founded the company in 2004 with a vision of simplifying medical offices with web-based medical billing software. Prior to launching Kareo, Dan started creating technology for the healthcare industry in 2001 as a co-founder and managing
Sramana: How much money have you raised to get where you are today? Aydin Mirzaee: We have not raised any investment money. From time to time we have applied and won some government grants, but nothing major. We are basically a bootstrapped company. The co-founders did not take money for the first two years, and
Sramana: The survey market is quite full, and SurveyMonkey is a dominant player in the market. How did you compete against them? Aydin Mirzaee: In the beginning we were focusing on the Canadian market. We met governmental regulations that gave us a niche market. Once we had that funding, we started to focus on expanding