EngagePoint™ Secures Growth Financing Round for $20 Million
Summary
EngagePoint also plans to add to its sales and support staff to serve its growing set of government clients across the country. “We’re very pleased with this round of funding as it validates the company’s business model and direction, and allows us to expand and accelerate our products and services to serve the needs of state and federal agencies in the US,” said Pradeep Goel, Founder and CEO of EngagePoint. “This financing will continue to support the company’s growth in this exciting space where EngagePoint has shown thought and technology leadership. EngagePoint also plans to add to its sales and support staff to serve its growing set of government clients across the country. EngagePoint is working with multiple states on implementing health insurance marketplaces, building integrated eligibility and enrollment systems, and providing software-centric solutions and integration services.“We’re very pleased with this round of funding as it validates the company’s business model and direction, and allows us to expand and accelerate our products and services to serve the needs of state and federal agencies in the US,” said Pradeep Goel, Founder and CEO of EngagePoint.Funds managed by Brevet Capital Management, LLC have provided this round of financing via a senior debt facility for $20 million immediately, with the option to provide additional capital as needed to support growth.“We are very pleased to provide this growth capital and forge a relationship with EngagePoint as it continues to expand and serve a greater diversity of clients within the U.S.,” said Douglas Monticciolo, CEO of Brevet Capital.