Late last month, St.Cloud-based Netgain announced receiving $25m in a majority strategic stake from Bluff Point Associates, a private equity firm focused on the healthcare IT and financial services space.
We spoke with founder and CEO Scott Warzecha about the past, present and future for Netgain:
When and how did Netgain form?
I founded Netgain in January of 2000 as a pure play application service provider (ASP) because I realized that St. Cloud had a lot of fiber optic available.
For the first time ever, in this area at least, we were able to use this to access our data centers and do things never done before.
My original business plan included about 25 employees and was really just focused on the area, which we were concentrated on back in the beginning. An early salesperson really helped us break into the healthcare industry, which has become our specialty today and really expanded the geographic scope of Netgain.