St. Cloud, Minnesota-based Netgain, a cloud management services and technology provider, has raised $25 million in funding. The investor was Bluff Point Associates.
ST. CLOUD, Minn., Feb. 1, 2017 /PRNewswire/ — Netgain, the leading provider of IT-as-a-service (ITaaS) to health care providers and other highly regulated industries, announced that they have received a two-stage $25 million strategic investment from Bluff Point Associates, a private equity firm focused on growth-stage investing in the healthcare IT and the financial services space.
Netgain was seeking an investor to help fuel a national expansion and make a larger impact on the highly regulated markets they serve. With 120 employees in offices in Minnesota, Illinois and California, Netgain was looking for an investor who shared their same vision.
“We’ve been successful in matching our category-leading IT-as-a-service offering to the rigorous regulatory compliance needs of the organizations we serve. Now it’s time to amplify that alignment on a larger scale to meet demand, so we began a lengthy search to find the right investor to help us realize that growth. Bluff Point Associates perfectly met our investment needs while preserving the strong culture we’ve built here,” said Scott Warzecha, Founder and President at Netgain.
Warzecha went on to say that the Bluff Point Associates partnership will allow Netgain to even better serve existing clients while also positioning Netgain for substantial growth in the healthcare IT space and other highly regulated vertical markets that make sense. The investment will allow Netgain to invest in support, sales and marketing to accelerate growth in specific compliance-related vertical markets.
“We have our customers to thank for getting us to a leading position that attracted world-class investors. By partnering with Bluff Point Associates, our potential impact is nearly unlimited,” said Matt Riley, VP of Strategy at Netgain.
Bluff Point Associates invests in growth-stage information technology companies who serve the financial services and healthcare industries. They have invested in several successful companies nationwide, including being the first institutional investors in RazorInsights and DocuTAP, two leading EMR providers that Bluff Point Associates guided to highly successful exits in the last 24 months.
“Bluff Point Associates looks to invest in companies that have strong senior management and technology services with high growth potential,” said Kevin Fahey, Managing Director at Bluff Point Associates. “Netgain meets all of these criteria. We are very excited to partner with the Netgain team to enhance its existing growth opportunities. We believe Netgain has an exceptional opportunity to make a positive impact on organizations facing regulatory and security requirements, nationwide.”
As an IT-as-a-service (ITaaS) provider dedicated to the healthcare vertical and other industries that face a high level of regulatory compliance, Netgain delivers specialty application hosting, desktop-as-a-service (DaaS) and complete end-point management for its clients.
Netgain, a cloud management services and technology provider, was founded in 2000 and serves highly regulated mid-market organizations, nationwide. Netgain provides highly specialized services and solutions that simplify the cloud computing environment. They are relied on by their clients to be a specialized technology partner that deeply understands their business and the regulatory and security requirements with which they must comply. For more information visit http://netgainhosting.com.
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Conn. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential. For more information visit http://bluffpt.com.