Pioneering the digitalisation of occupational health, Parisian startup Padoa has just secured €80 million in a new funding round led by Five Arrows Growth Capital.
Founded in 2016 by a team of five co-founders within venture builder Kamet Ventures, which will continue to hold a majority stake in the company with Five Arrows as a significant shareholder.
Padoa is on a 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.
The medtech startups’ 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.
Cédric Mathorel, co-founder, Chairman and CEO of Padoa, said: “Padoa has been growing since its 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.”
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.
Currently, the startup 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.
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.”