Padoa, a pioneer in the digitalisation of occupational health, has completed a new funding round led by Five Arrows Growth Capital (FAGC) – to further accelerate its expansion in the occupational health market.
Padoa was founded in late 2016 by a team of five co-founders within venture builder Kamet Ventures, with the mission to improve the health of millions of workers by applying innovation and technology to occupational health. The company designs and develops software and services that are dedicated to occupational health centres.
Padoa’s software platform provides occupational health professionals in France with the tools they need to manage their staff, design prevention strategies and seamlessly connect with employers and employees to promote well-being in the workplace. The padoa platform places the highest emphasis on healthcare data protection and has obtained both the Hébergeur de Données de Santé (Healthcare Data Hosting) and ISO 27001 certifications in France. padoa currently has 140 employees and reaches more than 200,000 companies representing two million employees.
The aim of this funding round is to expand padoa’s offering and continue to invest heavily in research and development. The new capital will support accelerated growth, including the hiring of over 60 new employees in 2022.
Kamet Ventures will continue to hold a majority stake, alongside Five Arrows which has become a significant shareholder. padoa’s management team also retains a significant equity interest. Five Arrows will provide padoa with strategic and financial support, as well as access to Rothschild & Co’s network in the healthcare and technology sectors.
Cédric Mathorel, co-founder, Chairman and CEO of padoa, said: “padoa has been growing since inception with the vision of providing occupational health centres in France with technological tools to meet their unique challenges. This transaction will enable us to further strengthen our software platform and keep innovating for our clients.
Kamet Ventures’ ongoing support ensures continuity, while the arrival of Five Arrows opens new opportunities and further increases the strategic support provided by our shareholders. All the ingredients are now in place to consolidate padoa‘s market leadership position.”
Stéphane Guinet, Founder of Kamet Ventures, added: “Our mission as a Venture Builder is to create innovative new business models. We are committed to padoa and believe deeply in its mission of occupational risk prevention and health in the workplace. This is why we have financed it in full since inception. The company is now on an exceptional trajectory and we are delighted to welcome Five Arrows on this journey, so that together with padoa’s team of co-founders, we can lead the next phase of the company’s development.”
Jean-Daniel Bertoncini, Co-Head of Five Arrows Growth Capital, commented: “padoa leverages its cutting-edge technology to help occupational health professionals perform at their best with a positive impact on the well-being of millions of workers. We are delighted to partner with Kamet and padoa’s talented team to help them achieve this goal.”