Dublin-based Ocuco, a specialist eyecare software partner, announced on Thursday, August 17, that it has secured €60M in a growth equity investment from Accel-KKR, a US-based tech-focused private equity firm.
Ocuco says the investment will support the development of its cloud-based software, Acuitas 3 OmniChannel Edition, catering to various customer touchpoints.
With Accel-KKR’s support, Ocuco also plans to explore strategic mergers and acquisitions to further expand its market presence.
Leo Mac Canna, founder and CEO of Ocuco, says, “We are excited to partner with Accel-KKR, given their expertise in practice management software and proven track record in scaling vertical SaaS companies in the US and globally.”
“Accel-KKR’s investment is not only a testament to our strong performance but a powerful endorsement that enhances our financial standing. We are well positioned to serve the full range of eyecare practices from independents to global chains that require a partner with the ability to deliver at scale,” adds Canna.
Ocuco – Everything you need to know
Founded in 1993 by now Group CEO Leo Mac Canna, Ocuco claims to be a pioneer in software solutions for the ophthalmic retail markets.
Ophthalmology is a medical subspecialty that specialises in diagnosing and treating eye disorders and involves both surgical and medical approaches.
With a three-decade track record, Ocuco serves over 6,750 eyecare establishments and laboratories across 88 countries with top-notch software solutions.
The changing landscape of online and omnichannel experiences in eyecare presents challenges for integrating retail and clinical systems. Ocuco’s Acuitas 3 OmniChannel Edition uses innovative technology to merge these elements, enhancing user and customer experiences.
Brief about Accel-KKR
Accel-KKR is a technology-focused investment firm with $19B in capital commitments. They specialise in software and tech-enabled businesses, aiming for growth in revenue and profitability.
The firm prioritises strong partnerships with portfolio company management and offers a range of capital solutions for middle-market companies, including buyouts, growth investments, and credit alternatives.
Accel-KKR engages in various transaction types and operates from headquarters in Menlo Park with additional offices in Atlanta, London, and Mexico City.
David Cusimano, MD at Accel-KKR, says, “We’re thrilled to partner with Ocuco, a decades-long leader in eyecare software with a scaled and differentiated product offering. This investment aligns with our strategy of backing market-leading, mission-critical software companies led by strong management teams.”
“We look forward to leveraging our network and resources to support Ocuco’s growth strategy as it expands its next-generation SaaS product globally,” adds Cusimano.
