PointClickCare Technologies received a total of $186 million investment from Dragoneer Investment Group, a San Francisco-based investment firm. The said investment made Dragoneer the largest institutional shareholder by owning 20 percent of the company.
The Investor: Dragoneer Investment Group
Dragoneer is a U.S. investment-based firm that has more than $4 billion in long-duration capital from different partners that include endowments, foundations and more. They have also invested in other well-known companies like Flipkart, Uber, and Airbnb.
About PointClickCare Technologies
PointClickCare Technologies is a Toronto-based cloud software platform for the long-term and post-acute care market (LTPAC) and was founded by CEO Mike Wessinger.
The platform has 15,000 Long-Term and Post-Acute Care (LTPAC ) provider communities and agencies. It manages over 1.2 million active resident records and due to its impressive performance, it was able to achieve 98 percent customer retention rate.
Also named by Forbes as one of the top 100 private cloud companies in the world in 2017 and 2018. PointClickCare showed a 25 percent profitable growth and able to exceed $200-million in revenue in 2017. It has been no surprise that a big company like Dragoneer saw its potential and willingly increase their financial support.
“Having watched PointClickCare successfully execute on its strategic plan over the past two years we are excited to support the Company as it continues to capitalize on the opportunities ahead,” said Marc Stad, founder and portfolio manager of Dragoneer. Source: techvibes.com
PointClickCare plays a big role in healthcare and with continued effort and support, it will surely maintain its lead in innovative cloud solutions in the healthcare industry.