QGenda Announces Strategic Growth Investment from ICONIQ Capital
Press Releases — Jun 10, 2020
ATLANTA AND SAN FRANCISCO -- QGenda, LLC (QGenda), the leading provider of SaaS-based workforce management software to the healthcare industry, today announced a significant new equity investment from ICONIQ Capital, a privately-held investment firm. With the investment, ICONIQ Capital will partner with Francisco Partners, who will retain a majority stake. Terms of the transaction were not disclosed.
QGenda is a leading innovator of healthcare provider scheduling, clinical capacity management, and labor analytics. The company’s deep specialty experience, critical products, and exemplary customer focus have driven broad adoption by over 3,000 customers across more than 30 medical specialties.
“Throughout our partnership with Francisco Partners, QGenda has successfully accelerated growth, continued product innovation, and strengthened relationships with our healthcare customers,” said Greg Benoit, CEO of QGenda. “We are excited to welcome ICONIQ Capital, a firm with deep software experience, as we continue to expand our footprint and growth strategy. With the support of these two investment firms, we will continue to focus on delivering pioneering products and unparalleled service to our customers.”
“We have long admired QGenda’s achievements and believe that the company can truly build on its leadership in the healthcare workforce management category, becoming a generational player not only in scheduling but in healthcare tech more broadly,” said Will Griffith, partner at ICONIQ Capital. “I'm looking forward to joining the board and working with Greg, the QGenda team, and Francisco Partners to help extend the company’s tremendous success.”
Ezra Perlman, co-president of Francisco Partners, added, “When we first met Greg and his team five years ago, we recognized he was building a remarkable company and knew we wanted to partner with him. Since then, QGenda’s growth and impact on its customers has been profound, and we are excited to continue the journey with the company and ICONIQ Capital.”
Evercore Group and Raymond James & Associates, Inc. served as financial advisors to QGenda. Kirkland & Ellis LLP served as legal counsel to QGenda. Goodwin Procter LLP served as legal counsel to ICONIQ Capital.
QGenda is a leading innovator of provider scheduling, clinical capacity management, and labor analytics. Since its launch in 2006, QGenda has grown to serve more than 3,000 organizations in over 30 medical specialties. Leading physician groups, hospitals, academic medical centers, and enterprise health systems use QGenda for their provider scheduling, optimizing their workforce, and empowering patient care. QGenda is headquartered in Atlanta, GA with offices in Baltimore, MD, and South Burlington, VT.
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised more than $24 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com
About ICONIQ Capital
ICONIQ Capital is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders and institutions around the world. The firm invests in technology growth equity and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify global impact and support a new generation of entrepreneurs and companies. For a full list of investments made by ICONIQ Growth, an affiliate of ICONIQ Capital, please visit: https://www.linkedin.com/showcase/iconiq-growth/
Since its launch in 2006, QGenda has grown to serve more than 3,000 customers in over 30 medical specialties. Leading physician groups, academic medical centers, hospital and health systems, and national practice consolidators use QGenda to optimize their workforce and provide the best possible patient care. QGenda is headquartered in Atlanta, GA.