Procare Software Acquisition, Valuation, Funding & Investors

Procare Software was acquired by Roper Technologies for $1.9B in January 2024.

Procare Software acquisition price

$1.9B

Acquired by Roper Technologies · Jan 2024

Key investors in Procare Software

  • Warburg Pincus

Procare Software Overview

About Procare Software

Procare Software is a US provider of child care management software, founded in 1992. Its modular business management products serve child care centers, preschools, daycare centers, after-school programs and camps. The company also offers Tuition Express payment processing, the KidReports parent and classroom communication tool, hardware and data hosting. At the time of the Warburg Pincus investment it served more than 30,000 centers. Its customers use the software for enrollment, billing, attendance and parent engagement. The business later operated as Procare Solutions and expanded to more than 37,000 customers. It sells mainly to independent centers and to regional and national child care chains.


Founded

1992

HQ

United StatesMedford

Status

Acquired

Customer focus

B2B

Revenue model

Subscription, Services

Valuation

$1.9B (acquired Jan 2024)

Procare Software Acquisition

Procare Software was acquired by Roper Technologies for $1.9B on 25 January 2024.

Warburg Pincus and TA Associates announced on 25 January 2024 an agreement to sell Procare Solutions to Roper Technologies for a total enterprise value of $1.86 billion. Warburg Pincus had invested in the company in August 2018, and TA Associates sold its minority interest in the transaction. The sale was expected to close in the first quarter of 2024, subject to regulatory approvals and customary conditions. Procare's growth came from new child care centers joining and from customers adopting additional modules such as payments processing, family engagement and curriculum. Founded in 1992, Procare offers center management software and integrated payment processing and says that over 37,000 customers use its products. Its chief executive said she looked forward to working with the Roper team to take the company to the next level.

Procare Software acquisition details
AcquirerDateTypePrice
25 Jan 2024Strategic M&A$1.9B

Sources: ta.com

Procare Software Funding History

Procare Software has raised 1 funding round.

Procare Software funding rounds
DateStageInvestorsDeal Summary
Aug 2018Undisclosed stageWarburg PincusWarburg Pincus announced on 6 August 2018 a growth investment in Procare Software, a provider of integrated child care management technology. The investment was designed to fund organic and inorganic growth, support future strategic efforts and provide liquidity to existing shareholders. TA Associates, which had first invested in Procare in 2015, remained a significant investor and Procare's management kept an ownership stake. The announcement came together with Procare's agreement to acquire Cirrus Group, whose Daycare Works, SchoolCare Works and RecCare Works platforms handle scheduling, compliance, subsidy payments and food program accounting. Procare, founded in 1992, sells modular business management software, Tuition Express payment processing and the KidReports parent and classroom tool to more than 30,000 child care centers, preschools, after-school programs and camps. William Blair was exclusive financial advisor to Procare.

Who has invested in Procare Software?

1 investor has backed Procare Software across its funding rounds, including Warburg Pincus.


Procare Software Investors

Investors in Procare Software by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Procare Software investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Procare Software Competitors

Procare Software competitors include listed companies like Topicus, Vitec Software, Computer Age Management Services and iFAST Corp, and private ones like Raise Financial Services and DailyPay.

Public and private companies comparable to Procare Software
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TopicusNetherlandsNetherlandsPublicly listed$1.7B$383M$6.3B3.5x
Vitec SoftwareSwedenSwedenPublicly listed$370M$150M$1.2B4.0x
Raise Financial ServicesIndiaMumbaiPrivate$96M-$1.2B12.5x
Computer Age Management ServicesIndiaIndiaPublicly listed$161M$76M$1.9B10.4x
iFAST CorpSingaporeSingaporePublicly listed$348M$105M$1.9B1.9x
DailyPayUnited StatesNew York City, NYPrivate$235M-$1.8B7.8x

Procare Software Public Comps

Procare Software is no longer listed, but its public comps include Computer Age Management Services, iFAST Corp, Alef Education, Diebold Nixdorf, Aisino, McGraw Hill, Donnelley Financial Solutions, Yusys Technologies, eFinance and Cengage.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Computer Age Management Services$161M$76M11.1x10.4x23.6x22.8x
iFAST Corp$348M$105M2.7x1.9x8.9x6.3x
Alef Education$210M$150M8.2x7.7x11.5x11.1x
Diebold Nixdorf$3.8B$329M0.7x0.7x8.3x5.5x
Aisino$833M($46M)1.7x-(31.4x)-
McGraw Hill$2.1B$613M2.1x2.1x7.2x5.9x
Donnelley Financial Solutions$767M$122M2.3x2.2x14.2x6.9x
Yusys Technologies$544M$67M2.3x2.3x18.8x16.9x

This data is available for Pro users. Sign up to see all Procare Software competitors and their valuation data.

Start Free Trial

Common questions about Procare Software

When was Procare Software founded?Procare Software was founded in 1992.
Where is Procare Software headquartered?Procare Software is headquartered in Medford, United States.
Is Procare Software publicly listed?No, Procare Software was acquired by Roper Technologies in January 2024.
Who acquired Procare Software?Procare Software was acquired by Roper Technologies in January 2024.
How much was Procare Software acquired for?Procare Software was acquired for $1.9B in January 2024.
What was Procare Software's last funding round?Procare Software's last funding round was a undisclosed-stage round in August 2018.
Who are Procare Software's investors?Procare Software's investors include Warburg Pincus.
Which companies are comparable to Procare Software?Companies comparable to Procare Software include Topicus, Vitec Software, Raise Financial Services, Computer Age Management Services, iFAST Corp and DailyPay.

See companies similar to Procare Software

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial