TigerConnect, the market-leading clinical communication and collaboration platform provider, has announced it has secured $300 million strategic growth investment from the private equity firm Vista Equity Partners.
TigerConnect was formed in 2010 as TigerText at a time when healthcare organizations were still extensively using pagers and faxes for clinical communications. The TigerConnect platform helped bring communication up to date, allowing healthcare organizations to significantly improve efficiency and streamline workflows. Originally launched as a text-based messaging solution for mobile phones, the platform is now a universal communication and workflow platform for healthcare that everyone can use to communicate via text, voice, or video calls on mobile devices and desktop computers. The platform is also HIPAA-compliant and allows patient data to be securely shared.
The COVID-19 pandemic has highlighted the need for improved communications in hospitals and other healthcare facilities, with many healthcare organizations making the switch to TigerConnect to improve communication efficiency, support collaboration with remote workers, engage with patients, and conduct telehealth visits. Last year, TigerConnect doubled its users. The platform is now used by more than 7,000 healthcare organizations and 700,000 caregivers. Three billion messages were exchanged on the platform in 2021, and there were more than one million interactions with patients and their families.
“At TigerConnect, we are laser-focused on improving the care experience for providers and patients, beginning with access to real-time and contextual communication and collaboration throughout every step of the care journey,” said Brad Brooks, Co-Founder and Chief Executive Officer of TigerConnect. “We believe that Vista’s expertise in partnering with founder-led and market-leading enterprise software businesses, coupled with our shared values, align strongly with our mission to provide advanced collaboration technologies that improve care delivery.”
In 2020, TigerConnect secured $45 million in series D investment funding and last year acquired Call Scheduler and Critical Alert and incorporated the two companies’ offerings into its platform. In addition to the clinical communication and collaboration platform, TigerConnect now offers physician scheduling, patient engagement, and nurse alarm management and event notification solutions. The latest investment will be used to further expand the platform to improve patient care through real-time, contextual communications. Brooks said the company will also be looking at acquisition opportunities to better meet the communication and collaboration needs of healthcare organizations.
“This investment underscores our Firm’s conviction in clinical collaboration and communication as a mission-critical element of the patient care process and a market in which we expect to see increased demand and growth over the next few years,” said Ryan Atlas, Managing Director at Vista Equity Partners. “We look forward to our partnership with TigerConnect and its team, who are at the forefront of a revolutionary shift in how healthcare professionals communicate with each other and with patients to optimize experiences and outcomes.”