CareStack Acquires Airtel-Backed Waybeo to Strengthen Patient Communication

The acquisition, although undisclosed in financial terms, brings together Waybeo's technological expertise and CareStack's extensive market reach.

US-and India-based CareStack, a cloud-based dental practice management platform, has acquired Waybeo, an AI startup based in Kerala. This strategic move aims to enhance patient-practitioner communication within the healthcare sector.

Founded in 2009, Waybeo specialises in deep AI-based analytics for cloud telephony, offering solutions such as call tracking, lead response automation, sales call automation, and automated voice alerts.

The acquisition, although undisclosed in financial terms, brings together Waybeo's technological expertise and CareStack's extensive market reach.

Commenting on the development, Abhilash Krishna, chief executive of CareStack said, "Integrating Waybeo’s advanced analytics into our platform is a game-changer. It aligns with our commitment to redefine dental care.”

This move is part of CareStack's broader strategy to expand its capabilities and reshape patient communication, ultimately transforming dental operations.

Waybeo, with a clientele of 56 enterprise customers nationwide, has shown consistent year-on-year growth, averaging around 39.42% in the last seven financial years, said the company.

Further, per the company, its call-tracking product currently serves about 22,000 locations across India, catering to industry giants such as Royal Enfield, Tata Motors, and Honda Cars India.

Krishnan RV, cofounder and chief executive of Waybeo, commenting on the strategic nature of the acquisition, said, "It’s a leap toward advancing patient care standards. We are not just streamlining communication but helping elevate patient care experiences in healthcare facilities."

Following the acquisition, Waybeo aims to expand its footprint both in India and international markets, including sectors beyond healthcare such as automobile, consumer durables, insurance, broking, and real estate.

CareStack, on the other hand, founded in 2015, is a cloud-based dental practice management software dedicated to meeting the comprehensive needs of dental offices. In July last year, the startup secured a strategic equity investment round from Swiss dental devices manufacturer Straumann Group, indicating its commitment to global expansion.

As the global dental practice management software market is projected to reach $3,455.40 million by 2032, growing at a CAGR of 9.7% between 2023 and 2032, CareStack's acquisition of Waybeo positions the company strategically in the evolving landscape of healthcare technology.