Dragoneer Investment Group, a leading, growth-oriented investment firm, today announced that it has acquired an additional $146 million of PointClickCare shares from the Company’s existing investors, according to a release on the PE Hub Network. With this most recent share purchase, Dragoneer becomes PointClickCare’s largest institutional shareholder with an ownership position of over 20 percent. Christian Jensen has been appointed to the PointClickCare Board of Directors, effective immediately.
PointClickCare Technologies, based in Mississauga, Ontario, is the leading cloud-based software platform for the long-term and post-acute care market (LTPAC). Since Dragoneer’s initial investment in August 2016, PointClickCare has demonstrated strong performance and now supports over 15,000 LTPAC provider communities and agencies on its platform, representing over 60 percent market share and the largest single repository of post-acute data in the industry. Today, the Company manages over 1.2-million active resident records and maintains an impressive 98 percent customer retention rate.
In FY2017, PointClickCare exceeded $200-million in revenue, demonstrating unmatched market penetration with over 25 percent year-over-year profitable growth. The Company was also named to Forbes 2017 Cloud 100, the definitive list of the top 100 private cloud companies in the world, for the second consecutive year.
Read the full release at PE Hub Network.