Accel-KKR has sold Cloud 9 Software to Planet DDS, a portfolio company of Aquiline Capital Partners and Level Equity
Cloud 9 Software
Founded in 2009, Cloud 9 Software is a 100% cloud-based practice optimization platform. Headquartered in Roswell, Georgia, Cloud 9 currently serves more than 2,300 locations with thousands of providers and millions of patients combined. To learn more, please visit www.cloud9.software.
The Planet DDS dental software platform, with the addition of Cloud 9, will be able to provide a stronger single vendor solution to support the growth and operational success of both multi-specialty and single-specialty practices. Eric Giesecke, Chief Executive Officer of Planet DDS, commented, “The addition of Cloud 9 deepens our understanding and ability to serve the unique needs of orthodontic and pediatric care practices. Our consistent growth and leadership in cloud-based dental software has always been rooted in our ability to anticipate the needs of our customers, and we are thrilled to welcome Cloud 9 and its experienced team who will help us continue this mission.”
Through joining Planet DDS, Cloud 9 will continue to accelerate and expand on its mission to boost practice productivity and the efficacy of patient care. Mike Ressel, Chief Executive Officer of Cloud 9 added, “Having been in the cloud since the founding of our company, we see an incredible opportunity to rethink how dental practices operate. By joining Planet DDS, we continue to be well positioned and resourced to lead this remarkable shift to the cloud on behalf of our orthodontic and pediatric practice customers. I could not be more excited for this partnership and what we can accomplish together.”
“Dental practices deserve the best in technology to be efficient, stay competitive and deliver exceptional patient care,” said Phil Cunningham, Managing Director of Accel-KKR, which invested in Cloud 9 in 2019. “The addition of Cloud 9 to Planet DDS’ one-stop cloud-based solution will provide a compelling value proposition for practices. It has been a pleasure working alongside Mike Ressel and the dedicated team to scale Cloud 9, and we wish the new partnership continued success.”
Cloud 9 is an excellent case study in the growing demand for purpose-built healthcare software that is designed to address the unique needs and challenges faced by healthcare practitioners in specific care settings. As the modern healthcare practice strives to achieve scale, improve efficiency, increase profitability and all the while maintaining the highest quality of care, powerful and dynamic cloud solutions like Cloud 9 will bring differentiated value.
Mike Siano, Managing Director in Lincoln’s Healthcare Group, commented, “Cloud 9 is at the forefront of revolutionizing how orthodontic and pediatric dental practices operate and scale in the cloud. This transaction represents a highly logical and compelling combination. It was a pleasure working with the Accel-KKR and Cloud 9 teams, and we look forward to seeing the continued growth and success of the business in the future.”
Accel-KKR is a technology-focused investment firm with $14 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.
Accel-KKR focuses on middle market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and take-private transactions. Accel-KKR is headquartered in Menlo Park, California, with offices in Atlanta, London and Mexico City.
Planet DDS is the leading provider of cloud-enabled dental software solutions serving more than 10,000 practices in North America with more than 60,000 users. The company delivers a complete platform of solutions for dental practices, including Denticon Practice Management, Apteryx XVWeb Cloud Imaging and Legwork Dental Marketing and Patient Communications. Planet DDS is committed to creating value for its dental practice clients by solving the most urgent challenges facing today’s dental practices in North America. To learn more, please visit www.planetdds.com.
Aquiline Capital Partners and Level Equity
Aquiline Capital Partners is a private investment firm based in New York and London that invests across financial services and technology. Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-driven businesses.
Selecting Lincoln as our go-to market partner was key to the successful sale of Cloud 9 Software. Lincoln’s exceptional knowledge of the market and their deep relationships with the buyer universe helped ensure that we targeted a highly curated roster of potential buyers, which in turn helped us to run an extremely efficient and effective process.
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