TigerConnect Closes $45M Series D To Meet Soaring Demand
SANTA MONICA, Calif., Oct. 8, 2020 /PRNewswire/ -- TigerConnect, healthcare's most widely adopted care team collaboration solution, today closed a $45M Series D investment to fuel continued investment into its telehealth and workflow collaboration platform to meet surging demand. The round was led by healthcare-focused investor HealthQuest Capital, with additional investment coming from New Leaf Ventures, Montreux Growth Partners, Norwest Venture Partners, Invus and Industry Ventures. TigerConnect's revenue has grown over 30% since the onset of COVID-19 in March, with more than 1,000 healthcare organizations adopting TigerConnect's platform to quickly communicate and coordinate care, improve outcomes and treat patients remotely.
Since the beginning of the COVID-19 pandemic, TigerConnect has experienced tremendous user growth and engagement due to its efficacy in improving care team collaboration.
"The COVID-19 pandemic is a watershed moment in care delivery. With unprecedented pressures on operations, health systems must be more connected, efficient and capable of meeting patients wherever they are," said TigerConnect co-founder and CEO Brad Brooks. "TigerConnect is in a unique position to help hospitals turn the page on antiquated systems to get more done – and improve outcomes. Although we weren't actively looking to raise capital, we were impressed by HealthQuest's healthcare expertise and health system knowledge. We look forward to partnering with the HealthQuest team as we unite collaboration and patient engagement in one organic experience and scaling our solution to meet the soaring demand for telehealth and collaboration tools worldwide."
More than 7,000 healthcare organizations around the world trust TigerConnect to improve operations and coordinate care across organizations and patients alike. Notable customer highlights of the past six months include:
TigerConnect has expanded headcount by more than 35% in the past six months to support increasing demand for its collaboration platform. The company will use the proceeds to expand investment in product development and professional services to meet the growing need for advanced, easy-to-use, integrated collaboration solutions.
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