DUBLIN, IRELAND & MENLO PARK, CA – AUGUST 17, 2023 – Ocuco, a global leader in eyecare software solutions, today announced a €60 million growth equity investment from Accel-KKR, a global technology-focused private equity firm. The investment is set to boost Ocuco's global momentum, enabling the company to meet the eyecare industry’s burgeoning omnichannel demand through Acuitas 3 OmniChannel Edition, Ocuco’s category-defining cloud-based software solution. With Accel-KKR’s backing, Ocuco will also continue to capitalize on strategic M&A opportunities.
"We are excited to partner with Accel-KKR, given their expertise in practice management software and proven track record in scaling vertical SaaS companies in the US and globally," said Leo Mac Canna, founder and CEO of Ocuco. “Accel-KKR's investment is not only a testament to our strong performance but a powerful endorsement that enhances our financial standing. We are well positioned to serve the full range of eyecare practices from independents to global chains that require a partner with the ability to deliver at scale."
Ocuco has over 30 years of experience delivering high-quality software solutions to 6,750-plus eyecare locations and labs across 88 countries. Today, new online approaches and omnichannel customer experiences are revolutionising eyecare but are also increasing the complexity for eyecare practitioners to manage and integrate online and in-store retail and clinical systems. Ocuco addresses this challenge with Acuitas 3 OmniChannel Edition, which uses innovative technology to draw these elements together and create a seamless user and customer experience.
David Cusimano, Managing Director at Accel-KKR, commented on the investment, “We’re thrilled to partner with Ocuco, a decades-long leader in eyecare software with a scaled and differentiated product offering. This investment aligns with our strategy of backing market-leading, mission-critical software companies led by strong management teams. We look forward to leveraging our network and resources to support Ocuco’s growth strategy as it expands its next-generation SaaS product globally."
This partnership is also expected to stimulate M&A opportunities, aligning with a core tenet of Ocuco's growth strategy. "We are poised for accelerated growth, and Accel-KKR's investment will undoubtedly propel our M&A strategy, allowing us to continue innovating and expanding our offerings," added Mac Canna.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative 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 going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London and Mexico City. Visit accel-kkr.com to learn more.
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17 August 2023