SAN FRANCISCO--(BUSINESS WIRE)--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. 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.
“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.
“We are delighted to be deepening our strategic relationship, and I look forward to working closely with the PointClickCare team to continue delivering sustainable and profitable growth while leading the industry in innovative cloud solutions for the healthcare continuum,” said Christian Jensen.
“We are pleased with Dragoneer’s decision to increase its support for PointClickCare,” said Mike Wessinger, Chief Executive Officer of PointClickCare. “We look forward to continuing to build on our partnership with Dragoneer and are delighted to officially welcome Christian to our Board.”
About Dragoneer Investment Group
Dragoneer is a San Francisco-based, growth-oriented investment firm with over $4 billion in long-duration capital from partners including leading endowments, foundations, and institutional family offices. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm’s track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Dragoneer has been an investor in companies such as Airbnb, Alibaba, AmWins, Appfolio, Atlassian, Dollar Shave Club, Etsy, Facebook, JD.com, Netflix, New Relic, PointClickCare, Procore, Spotify, Square, ServiceNow, Uber, and others.