Poised for growth
Founded in 2004, a leading healthcare software specialist had reached saturation point in its local market. Expansion into other European territories had been opportunistic to date, but the business had ambitious plans to expand in a more strategic, structured and secure way.
Securing the right investment partner
Bringing in an outside investor was a clear option, but the management team was sceptical.
The business had already been through acquisition in 2018, but the deal hadn’t been a success. The acquiring team didn’t understand the business model. When key decision-makers departed, the team battled for survival. Frustrated, 2 members of the founding team bought the company back in 2020.
This time, they were determined to choose an investment partner who shared their vision for the company’s future.
The CEO explained:
“Our business had saturated the local market, and we needed a structured approach to other territories, including the UK. We wanted a partner that knew our market and would support long term success – not an investor that had no idea about our business or was looking for a quick exit.”
There was a lot to consider. Was the timing right? What would be the right approach to the UK market? How stable is the potential investor? What expertise would they bring? And could the CEO and his team stay involved?
Right time and place
The team came across Upliift. After an initial approach the company’s CEO felt his search for an investment partner was at an end.
The CEO commented;
“One of the things that resonated most was Upliift’s permanent equity approach. They would invest in our software, invest in the company, help create subsidiaries in other markets, focus on growth – and stay on board for the long term.”
Unlike traditional investment options, Upliift’s transparent, founder-friendly approach reassured the management team that it could offer the long-term stability and support they needed for growth.
The deal
With Upliift, the management team secured a flexible investment deal that meant they could continue leading the business while benefiting from additional expertise and support.
Upliift’s diligence process was efficient and minimally disruptive. Rather than making endless requests, Upliift focused on key indicators of growth potential, including customer traction, top-line financials and contracts – freeing the team to continue focusing on running the business.
The CEO expanded,
“The process was straightforward. Upliift understood our business quickly and didn’t require an exhaustive deep dive. It took just four months from our first conversations to signing the final contract.”
The future
With the partnership finalised, the UK expansion plan is already in action.
The business has opened a new UK office and is building its local team. Upliift’s advisors are providing insights into the UK healthcare system from procurement to operations.
Together the business and Upliift are combining successful best in class, mature, capable products, with the investment and specific operational knowledge and software business expertise from Upliift needed to scale.
The CEO concludes with some advice for other founders;
“Transparency is key. Be clear about what you do and don’t want from an investor. Upliift took all of that into account for us. If you want to stay with the business, or exit, Upliift would be a great partner for you.”
With Upiift, the company has found an investment partner who shares its long-term vision. Its new strategic approach to new markets is setting the company up for sustainable growth.
To find out if Upliift could help your company grow, contact us at [email protected]
