CloudMD Software & Services Inc.
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CloudMD Software & Services Inc. - overview
Established
2018
Location
Vancouver, BC, Canada
Primary Industry
Healthcare
About
CloudMD Software & Services Inc. is a Canadian healthcare technology company specializing in integrated mental, physical, and occupational health services, enhancing employee well-being through innovative care solutions. CloudMD Software & Services Inc. , founded in 2018 and headquartered in Vancouver, Canada, provides comprehensive healthcare solutions.
The company has shifted its focus towards virtual health services and integrated care programs. Asha Ahmed is the founder of the company, and its CEO is Karen Adams. Recently, in May 2024, CPS Capital agreed to fully acquire CloudMD's outstanding shares for CAD 0. 04 apiece in cash.
The company has completed 2 deals to date, with a total amount raised of USD 12. 20 mn from its latest funding round, which was Public to Private on May 15, 2024. CloudMD Software & Services Inc. offers a personalized care program through Kii Health, integrating services across over 5,100 clinicians, including Social Workers, Psychologists, and Medical Specialists.
This diverse service offering addresses health needs, enhances productivity, minimizes absenteeism, and optimizes health benefit utilization. The company's approach empowers employees to access care through in-person visits, virtual appointments, and various communication methods. Kii Health serves approximately 7,200 organizations across North America, ensuring that millions benefit from its health and wellness initiatives. In 2023, CloudMD Software & Services Inc.
reported revenue of USD 67. 34 mn, with an EBITDA of USD -50. 54 mn, highlighting the company's financial landscape in the healthcare sector. The company aims to leverage the recent funding from CPS Capital to drive expansion into new markets, targeting the North American region for enhanced service delivery.
Additionally, CloudMD is set to launch new healthcare products in the coming year, focusing on innovative health management solutions. This strategic direction will allow for scalability and improvement in service accessibility, contributing to the overall growth of CloudMD in the healthcare technology space.
Current Investors
CPS Capital
Primary Industry
Healthcare
Sub Industries
Clinics/Outpatient Services, Hospitals, Accounting/Finance Software, Application Integration Software, Conferencing Software
Website
www.cloudmd.ca
Verticals
Artificial Intelligence, Cloud Computing, HealthTech
Company Stage
Mature
Total Amount Raised
Subscriber access only
CloudMD Software & Services Inc. - timeline of key events
CloudMD Software & Services Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Public to Private | Completed | CloudMD Software & Services Inc. | - |
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CloudMD Software & Services Inc. - employee data
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