HADDONFIELD, N.J., Oct. 31, 2015 /PRNewswire/ -- Dorado Systems, a leading national healthcare EDI platform, recently closed a round of equity funding from Spring Lake Equity Partners.
"Dorado is thrilled to be partnering with the team at Spring Lake," said Ed Kennedy, Dorado's CEO. "Aligning with a private equity market leader is a testament to Dorado Systems' continued growth and success, and will allow the business to reach new heights."
This funding round will enable Dorado to drive forward in the healthcare and higher education markets. With Spring Lake's backing, the firm will add resources to support its burgeoning roster of clients, which includes the nation's premier healthcare providers and vendors. Dorado also plans to expand its offerings by developing new products and services.
According to Jeff Williams of Spring Lake, "Dorado is at the forefront of providing transparency and efficiency to the healthcare claims process. We look forward to working with Ed Kennedy and his team to continue to deliver innovative software and connectivity solutions to the market."
Travis Coley and Dale Falcinelli of Spouting Rock Capital Advisors served as the exclusive advisors to Dorado Systems on its partnership with Spring Lake Equity Partners.
About Dorado Systems
The country's largest firms and institutions across the spectrum of healthcare, insurance, technology, and education partner with Dorado Systems to transmit and receive the data that power their businesses. Users leverage Dorado's industry-leading network of more than 600 direct connections to Medicaid, Medicare, and its wide platform of EDI tools and applications to rapidly process complex transactions and make more accurate decisions. By streamlining operations, maintaining efficient communication between providers and payers, and turning data into actionable information, Dorado Systems helps clients protect revenues and reduce costs.
About Spring Lake Equity Partners
Spring Lake Equity Partners is a Boston-based private equity firm. The firm invests equity capital primarily in later-stage, technology-oriented private companies. Spring Lake partners with great management teams to take their businesses to the next level, creating value for all stakeholders. Prior to spinning off in 2013 to form Spring Lake, the firm's principals constituted the private equity arm of Tudor Investment Corp., a global hedge fund.
SOURCE Dorado Systems