PointClickCare looks past IPO with $85M new funding

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By Ted Liu

PointClickCare Corp., a leading provider of cloud-based software and services for the long-term post-acute care (LTPAC) and senior living markets, has raised US $85 million led by hedge fund manager, Dragoneer Investment Group, LLC, with JMI Equity, an existing investor since 2011, also participating.

Based in San Francisco, California, Dragoneer has an extensive track record of investing in high quality growth companies including Uber, Airbnb, New Relic, Atlassian, and AppFolio.

With this financing in place, PointClickCare further accelerates its focus on delivering innovative solutions to its customers and end markets.

In 2105, PointClickCare filed for a proposed initial public offering on TSX and NASDAQ. It formally withdrew its registration in October 2016.

Prior to close of the new financing, JMI owns approximately [mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content##[/mepr-active][mepr-active rule=”374″]27[/mepr-active]% of PointClickCare for an investment of US $[mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content##[/mepr-active][mepr-active rule=”374″]50[/mepr-active]million.

photo credit: Jeff Sheldon via unsplash