News Coverage – Business Insider: CareWorx Raises $17 Million in Private Equity Financing – Accelerates Position as Top 50 Global Managed Services Provider

Originally published by Business Insider

OTTAWAMarch 20, 2018 /CNW – CareWorx, one of the top 50 global managed service providers (MSP) and the market leader in senior care technology solutions, today announced it has closed a $17 million round of funding from California-based Kayne Partners. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P., an alternative investment firm managing over $26 billion in assets.

Founded in 2006, CareWorx provides a complete suite of managed services for mid-market and senior care businesses, including 24×7 service desk, remote monitoring and management, IT Service Management (ITSM) and managed end-user devices. CareWorx plans to use this investment to accelerate growth in the senior care market; expand existing managed services and security offerings; and finance acquisitions within the managed services, senior care and ServiceNow ecosystems.

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