Padoa was founded in late 2016 by a team of five co-founders within venture builder Kamet Ventures, with the mission to improve the health of millions of workers by applying innovation and technology to occupational health. The company designs and develops software and services that are dedicated to occupational health centres
The aim of this funding round is to expand Padoa’s offering and continue to invest heavily in research and development. The new capital will support accelerated growth, including the hiring of over 60 new employees in 2022
Kamet Ventures will continue to hold a majority stake, alongside Five Arrows which has become a significant shareholder. Padoa’s management team also retains a significant equity interest. Five Arrows will provide Padoa with strategic and financial support, as well as access to Rothschild & Co’s network in the healthcare and technology sectors
Padoa was founded in 2016, and provides occupational health software. It helps occupational health centres in their work with a collaborative and easy-to-use platform that offers a full range of tools for managing appointments, administration, management, individual employee follow-ups and the design of prevention policies in the workplace. The platform also seamlessly connects occupational health professionals with employers and employees. The company is both Hébergeur de Données de Santé (healthcare data hosting) and ISO 27001 data security certified. Padoa is headquartered in Paris, France and has 140 employees. Today, more than two million employees are supported via the Padoa platform.
Kamet Ventures is a venture builder whose mission is to invent, incubate, build and scale breakthrough companies that redefine the sectors of insurtech and healthtech as we know them today. Since its inception in 2016, Kamet has built a diversified portfolio of around 20 insurance and healthcare companies in Europe and Israel, among which emerging category leaders. The Kamet Ventures portfolio includes, for example, Ibex Medical Analytics, a pioneer in the field of AI-based cancer diagnostics, Qare, a virtual clinic and leading player in France’s remote medical consultation market, recently sold to UK group HealthHero, and Akur8, which is revolutionising insurance pricing using transparent artificial intelligence.
Five Arrows Growth Capital (FAGC) is part of the European private equity arm of Rothschild & Co’s Merchant Banking business. Merchant Banking manages over €17 billion globally which includes approximately €4.4 billion in corporate private equity, as well as a series of funds dedicated to senior and junior credits, primary and secondary fund investing and co-investments, with offices in Paris, London, New York, Los Angeles and Luxembourg.
FAGC focuses on investing in fast-growing companies in the lower middle-market with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; as well as multiple operational levers that can be used to unlock latent value. Like the other Five Arrows corporate private equity funds, FAGC focuses on the data and software, technology-enabled business services and healthcare sectors.
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acted as sole Financial Advisor to Padoa and its shareholders to conduct a growth LBO transaction consisting in a mix of equity and debt components
Bryan, Garnier & Co organized, prepared and led a competitive process involving many financial sponsors able to develop and implement, alongside Kamet Ventures, the right strategy and vision to take Padoa to its next stage of development
This transaction continues to demonstrate Bryan, Garnier & Co’s unparalleled expertise and track record with fast-growing technology-led companies in the healthcare segment. Notable other recent transactions include the sale of Qare to HealthHero, the merger between Medisys and Cityzen, the sale of BlueBee to Illumina, the acquisition of Maincare Solutions by Montagu Private Equity, the investment in CBA by Five Arrows Principal Investment, the sale of Olaqin from Ingenico Worldline to Andera Partners
Bryan, Garnier & Co footprint in the software LBO segment in 2021 includes other notable deals: the sale of Eudonet to Montagu, the acquisition of DL Software by TA Associates and the sale of Kompany to Moody’s