PointClickCare has received a $186 million from Dragoneer Investment Group, a San Francisco-based investment firm with over $4 billion in capital from partners including leading endowments, foundations, and institutional family offices. This puts Dragoneer’s investment stake in the company at 20 percent.
Dragoneer invested $111 million in the company last year with JMI Equity. With this investment, Dragoneer’s Christian Jensen has been appointed to the PointClickCare board of directors.
“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.
PointClickCare’s cloud-based software is targeted to the long-term and post-acute care market (LTPAC), covering care delivery management, financial management, and access to important patient information. The company currently has 15,000 LTPAC provider communities and agencies on its platform, and manages over 1.2 million active resident records.
In FY 2017, PointClickCare said that it exceeded $200 million in revenue.
“We are pleased with Dragoneer’s decision to increase its support for PointClickCare,” said Mike Wessinger, CEO of PointClickCare. “We look forward to continuing to build on our partnership with Dragoneer and are delighted to officially welcome Christian to our Board.”