Princeton-based investment firm Edison Partners has led a $5 million investment in Cleveland-based workflow optimization firm for the health care stop-loss industry, it announced Tuesday.
Ringmaster Technologies will use the funds to enhance its cloud solutions that help modernize the quoting and administration process for brokers, agencies, third-party administrators and carriers of stop-loss policies.
This is Edison’s second investment with Todd Roberti, founder and CEO of Ringmaster, and its fifth health care technology investment in six months.
“We’re thrilled to again partner with Todd Roberti, an accomplished leader who has demonstrated the intensity and motivation required to win,” Gregg Michaelson, partner, Edison Partners, who led the investment and joined the Ringmaster board, said. “We know from the experience of over 230 investments the importance of an accomplished CEO in driving the success of a company looking to scale. With Ringmaster, Todd has again identified a large and untapped market opportunity and is very quickly creating a leadership position and product market fit with differentiated technology.”
To date, Edison has financed and guided more than 230 companies since 1986.
“We saw an opportunity to explore new technology and create automated solutions to drive greater value and growth across the entire healthcare industry’s business chain. I returned to Edison Partners based on our previous success together and, more specifically, the specialized expertise they provide at the board level and with their operating acumen. I’m excited to partner with the firm and again become a critical component of the complex health care ecosystem,” Roberti said.