Kinnser Software announced today that it has secured Series A financing from Insight Venture Partners, a leading global software and Internet investment firm.
The $40 million investment will enable Kinnser to expand its software and organizational-development efforts to support its rapidly growing customer base. In addition, the funding will be used to accelerate the national rollout of Kinnser's sales and marketing campaign.
Kinnser provides services to more than 55,000 users working in more than 900 home health agencies and therapy providers nationwide. Revenue at Kinnser has grown more than 80 percent annually since the company was founded in 2003.
"There is no industry that is better served by a SaaS application than home health," said Kinnser President Christopher Hester. "The ability to have 'anytime-anywhere' access to patient records and business intelligence helps clients immensely in providing quality care.''
INC. magazine has recognized Kinnser as one of the fastest growing 500 private companies in the United States in both 2010 and 2011.
"We are greatly impressed with Kinnser's product leadership, passionate customer base and track record of strong, profitable growth," said Richard Wells, Managing Director at Insight Venture Partners. "Insight is thrilled to be able to partner with the Kinnser team in their continued growth."
Wells and Peter Sobiloff, also a Managing Director at Insight, will join Kinnser's board of directors.
About Kinnser Software
Kinnser Software creates innovative, Web-based software solutions that deliver clinical and business results to the home health industry. Founded in 2003, Kinnser has been ranked by Inc. Magazine as one of the top 500 fastest growing companies in the US for the past two consecutive years. More than 53,000 home health professionals depend on Kinnser Software. Kinnser's headquarters are in Austin, Texas.
About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: insightpartners.com.