Since its founding in 1993, Waud Capital has raised approximately $3.2 billion of capital commitments and has made more than 325 growth-oriented investments. We partner with exceptional management teams to build leading companies in our focus sectors of healthcare services and business and technology services. Waud Capital’s disciplined and process-oriented approach has resulted in consistently superior risk-adjusted returns for our investors.
In my career, I have enjoyed building successful businesses such as Applied Systems and Fair Isaac and look forward to replicating such success at CyberGrants. The partnership with Waud Capital has optimized our strategic vision and positioned the company for significant growth, and we have already made one important acquisition. We enjoy a working partnership with Waud Capital that goes beyond just capital – we have a true team relationship that is creating long-term value for all constituents.
Our partnership with Waud Capital has provided us with the capital, knowledge and resources that have greatly accelerated our growth of PSI, allowing us to build on our continued commitment to providing the best possible customer service, world-class technology and expanded solution offerings for workforce assessment and talent measurement. We have already made 20 acquisitions since closing in the beginning of 2015, tripling the size of the business and creating a much more strategic asset.
Waud Capital was a tremendous partner over four years. Their team understood the needs of the CVR organization; they shared my vision of building a first-class vein treatment business; and they allowed us to focus on the medicine while providing exceptional guidance to our efforts to scale the company. When Waud Capital exited the business in early 2016, we had grown from 11 centers predominantly in the Washington, D.C. area to 44 centers in eight states.