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- Procare Software
Procare Software Acquisition, Valuation, Funding & Investors
Procare Software was acquired by Roper Technologies for $1.9B in January 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
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.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 25 Jan 2024 | Strategic M&A | $1.9B |
Sources: ta.com
Procare Software Funding History
Procare Software has raised 1 funding round.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Aug 2018 | Undisclosed stage | Warburg Pincus | Warburg 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
| Investor | HQ | Rounds | Role | First 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 TrialProcare 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.7B | $383M | $6.3B | 3.5x | ||
| Publicly listed | $370M | $150M | $1.2B | 4.0x | ||
| Private | $96M | - | $1.2B | 12.5x | ||
| Publicly listed | $161M | $76M | $1.9B | 10.4x | ||
| Publicly listed | $348M | $105M | $1.9B | 1.9x | ||
| Private | $235M | - | $1.8B | 7.8x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $161M | $76M | 11.1x | 10.4x | 23.6x | 22.8x | |||
| $348M | $105M | 2.7x | 1.9x | 8.9x | 6.3x | |||
| $210M | $150M | 8.2x | 7.7x | 11.5x | 11.1x | |||
| $3.8B | $329M | 0.7x | 0.7x | 8.3x | 5.5x | |||
| $833M | ($46M) | 1.7x | - | (31.4x) | - | |||
| $2.1B | $613M | 2.1x | 2.1x | 7.2x | 5.9x | |||
| $767M | $122M | 2.3x | 2.2x | 14.2x | 6.9x | |||
| $544M | $67M | 2.3x | 2.3x | 18.8x | 16.9x | |||
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. |
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