CIBC Innovation Banking provides $22.5 mln debt funding to VC-backed TigerConnect

CIBC Innovation Banking has provided $22.5 million of debt financing to TigerConnect, a Santa Monica, California-based clinical communication solutions platform. Founded in 2010, TigerConnect helps physicians, nurses and other staff in over 4,000 healthcare organizations communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. The company’s investors include Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.

PRESS RELEASE

Santa Monica, CA and Toronto, ON (September 5, 2018) – CIBC Innovation Banking announced today a USD$22.5 Million debt financing with TigerConnect Inc., provider of healthcare’s most widely adopted clinical communication and collaboration (CC&C) solution. This capital will be used by the company to support its continued growth.

Founded in 2010, TigerConnect is the provider of healthcare’s most advanced, reliable, and widely adopted clinical communication platform. TigerConnect’s technology relieves overburdened clinical staff from the pain and wasted effort associated with disparate, disconnected information and arcane communication tools. It enables care teams to work better together – better communication, better collaboration, better engagement, and ultimately better outcomes. Several major health systems are already experiencing success from this new communication model. Investors in the company include Norwest Venture Partners, OrbiMed, Montreux Equity Partners, and New Leaf Ventures. TigerConnect is headquartered in Santa Monica, California.

“Our goal as a company is to enhance the quality of patient care by providing a reliable technology to clinical staff so they are able to communicate and collaborate more effectively,” said, Brad Brooks, Co-Founder and CEO of TigerConnect. “We always strive towards helping our customers improve their productivity and performance and this addition of growth capital from CIBC Innovation Banking will allow our team to continuously innovate and enhance our products.”

“We have worked alongside TigerConnect since 2017 and are dedicated to their future success,” said Jeff Chapman, Managing Director of CIBC Innovation Banking. “We look forward to helping their team continue to transform and lead the way in healthcare communications.”

About TigerConnect, Inc.
As healthcare’s largest provider of clinical communication solutions, TigerConnect helps physicians, nurses, and other staff communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. Trusted by more than 4,000 healthcare organizations, TigerConnect maintains 99.99% uptime and processes over 10 million messages each day. Its category-leading product innovations and advanced integrations with critical hospital systems deliver high value for hospitals and large health systems.

The company’s commitment to client success is reflected in its broad support organization that works directly with clients at every stage to streamline communication workflows and achieve the highest possible ROI. For more information, follow TigerConnect on Twitter, connect with us on LinkedIn and visit TigerConnect to learn how clients like RWJBarnabas, Geisinger, and Lifepoint are using TigerConnect to solve healthcare’s biggest communication challenges.

About CIBC Innovation Banking
With offices in Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, CIBC Innovation Banking is a full-service business that delivers strategic advice and funding to North American innovation clients at each stage of their business cycle, from start up to IPO and beyond. CIBC Innovation Banking brings extensive experience and a strong, collaborative team that extends across commercial banking and capital markets in Canada and the U.S.