Dapasoft has raised $4 million.
The Toronto-based healthcare IT group raised the money from York Angel Investors.
Dapasoft was founded in 1997 but this marks the first time the Canadian company has sought outside funding. The capital will “support growth and expansion plans,” according to Dapasoft.
“Investing in Dapasoft is just another example of YAI’s commitment to strengthening the York Region’s science and technology sector,” says Rudy Joss, a YAI Board Member.
“We’re currently developing a cloud-based [product] that will be released by the end of this year. Dapasoft is also expanding into the United States and global markets in 2016,” explains Stephen Chan, CEO.
With global healthcare challenges including aging population, increased life expectancy and chronic disease, Dapasoft believes that the timing is right for this funding and to take its integrated solutions into new markets to help customers.
“I congratulate both the York Angel Investors and Dapasoft on their continued successes,” said The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario.
“This big funding announcement for Dapasoft is an excellent example of how successful Angels working together can create opportunity for Canadian companies to grow and expand,” added Yuri Navarro, NACO Executive Director