CIBC Innovation Banking has provided undisclosed growth capital financing to CipherHealth, a New York-based provider of healthcare technology solutions for patient engagement and communication. CipherHealth is backed by JMI Equity. CIBC Innovation Banking is the technology lending arm of Canadian bank CIBC.
August 06, 2020
NEW YORK–(BUSINESS WIRE)–CIBC Innovation Banking is pleased to announce growth capital financing for CipherHealth, an industry leader in healthcare technology solutions for patient engagement and communication. The funding will enable CipherHealth to accelerate growth by further expanding its operations, go-to-market programs and platform innovation.
Backed by JMI Equity, hundreds of healthcare organizations across the U.S. rely on CipherHealth’s telehealth platform to connect and communicate with their patients and care teams. CipherHealth’s portfolio of solutions enables communications across the entire care continuum, ensuring patients feel safe and supported regardless of how they access their care – whether in an inpatient setting, at a doctor’s office, at home, or virtually.
Since the onset of the pandemic, CipherHealth has deployed nearly 2 million calls and texts to screen and monitor patients and staff alike – helping customers remain agile during the rapidly evolving environment.
“CipherHealth’s customers have consistently shared that its digital engagement platform is critical to improving patient care and outcomes,” said Paul Gibson, Managing Director in CIBC Innovation Banking’s Mid-Atlantic office. “We were impressed by their agility and fast response to the global pandemic, launching a suite of solutions that enables healthcare systems, hospitals and medical groups to manage critical communications with patients and staff.”
“CIBC Innovation Banking understands the critical nature of our digital engagement platform as healthcare providers look to modernize and digitally transform their patient engagement systems and processes,” said CipherHealth President and COO, Jake Pyles. “Their tailored credit and treasury management solutions are vital for us to stay agile and support the expansion of our operations, products, platform and go-to-market initiatives.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
CipherHealth is an award-winning digital engagement platform committed to enhancing communication and coordination throughout the care continuum. Since 2009, CipherHealth has shaped the patient engagement market, delivering groundbreaking products to help providers achieve and sustain improved health outcomes. CipherHealth’s portfolio of patient engagement software empowers healthcare organizations to foster meaningful connections to ensure the best possible outcomes for staff members, patients, and their loved ones.