Toronto-based PointClickCare has raised a strategic minority investment from Hellman & Friedman and existing investor Dragoneer Investment Group.
The news comes nearly one month after PointClickCare completed its largest acquisition to date.
Sources speaking with The Globe and Mail indicated that JMI Equity, some unnamed individual investors, and PointClickCare employees sold between $600 million USD and $800 million USD of stock as part of the transaction. The Globe noted the deal valued the startup at a reported $4 billion USD.
According to an announcement of the investment from PointClickCare, Hellman & Friedman will work with the startup’s leadership team to grow the company and expand its product offerings. Following the deal, Sameer Narang, partner at Hellman & Friedman, will join PointClickCare’s board of directors. The startup’s founders, Mike and David Wessinger, will continue to control and operate the company.