ResiDex Software Secures Majority Investment from Accel-KKR

MENLO PARK, Calif., Jan. 24, 2025 /PRNewswire/ -- ResiDex Software, a purpose-built EHR software platform for assisted living and senior care providers, today announced a majority investment from Accel-KKR, a leading technology-focused private equity firm. This strategic investment aims to accelerate ResiDex Software's growth and innovation in the healthcare technology sector.

ResiDex Software, headquartered in Minneapolis, MN, enables efficient patient health recordkeeping, caregiving, tracking, and other key functions such as billing and CRM, while seeking to ensure regulatory compliance, particularly for assisted living and senior care healthcare providers. The North American assisted living software market, encompassing solutions like Electronic Health Records (EHR), was valued at approximately $17.97 billion in 2023 and is projected to reach $33.55 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031¹. Residex's flagship product, RTasks, offers a fully integrated set of features to create effective workplace systems for assisted living organizations and group homes. RTasks streamlines work, enhances organization, and establishes systems of accountability, regardless whether for a large multi-campus organization or a small four-bed group home.

Chris Poelma, incoming CEO of ResiDex, commented, "We are thrilled to join forces with Accel-KKR. Their expertise in scaling technology companies and their commitment to our vision make them the ideal partner for our next phase of growth. According to US census data, the 65+ age population is expected to grow from 56.1 million people in 2020 to 73.1 million by 2030, representing a 30% increase over 10 years. This partnership will enable ResiDex to stay ahead of that growing need, serve our customers and take care of our seniors."

Accel-KKR's investment in ResiDex underscores its commitment to investing in innovative technology companies with strong growth potential. This partnership will leverage Accel-KKR's extensive resources and software expertise to drive ResiDex's continued success.

Phil Cunningham, Managing Director at Accel-KKR, said, "We are excited to partner with ResiDex, as it has demonstrated success in addressing the unique challenges of healthcare providers that run assisted care, senior care and group home facilities. We look forward to providing support to accelerate ResiDex's growth and expand their market presence."

ResiDex founder Dave Berg remarked, "This investment is a testament to ResiDex's success in providing exceptional service to our customers over many years – and I couldn't be prouder of our team's accomplishments. With a backer like Accel-KKR and under Chris's leadership, ResiDex will continue to thrive and innovate. I wish Chris and the entire ResiDex team the best of luck as they embark on this exciting new chapter."

About ResiDex Software

ResiDex Software is a leading provider of electronic health record (EHR) solutions, offering a comprehensive suite of tools designed to streamline operations, enhance patient care, and optimize financial performance. Based in Minneapolis, MN, ResiDex Software serves healthcare providers globally, delivering innovative solutions that drive efficiency and growth.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $21 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 partner 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, Chicago, London, and Mexico City.

MEDIA CONTACT:

For Accel-KKR:
TODD FOGARTY
Kekst Partners
[email protected] 

For ResiDex:
Riithink Digital Marketing
[email protected] 

SOURCE ResiDex Software