Investors sink $8 million into Petabyte Technology
The Seattle-area company recently released Rhapsody practice management software.
Petabyte Technology, a new developer of veterinary practice management software, has raised $8 million in Series A funding in support of its flagship product, Rhapsody.
The investment round was led by Acrew Capital and followed by Greycroft Partners, Correlation Ventures and Ridge Ventures, according to Petabyte. The seed round was led by Greycroft and included Ridge Ventures and Loeb.nyc.
The proceeds will be used to accelerate product development and expand Petabyte’s customer service teams. Petabyte is headquartered in Bellevue, Washington, and has offices in New York, Cleveland, San Francisco and Naples, Florida.
The cloud-based Rhapsody platform was released in September. Among its features are unique standardized codes, a virtual medical exam and machine learning to assist in diagnoses.
“We’ve made a core investment in standardization and automated migration, which is unique to the industry,” said Alex Krooglik, co-founder and chief operating officer of Petabyte.
Joining Petabyte’s board of directors are Vishal Lugani, a partner at Acrew Capital, and Ian Sigalow, co-founder and a partner at Greycroft Partners. Tim Mahlman, former president of Verizon Media’s ad platform business, is a board member and president of Petabyte.
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