Enterprise IT vendor TigerText said it raised $50 million in Series C funding round.
The company said the funding was aimed to accelerate the rapid market adoption of the company’s messaging app and the continued build-out of its platform-as-a-Service, “TigerConnect.”
The latest equity funding round was led by Norwest Venture Partners, a global, multi-stage venture capital and growth equity investment firm.
Norwest was joined in the latest round by Invus Group and Accolade Partners, as well as return backers Shasta Ventures, OrbiMed, and Reed Elsevier from the company’s previous Series B financing. The additional capital will be used to advance TigerText’s market penetration.
Robert Mittendorff, principal at Norwest Venture Partners and board certified emergency physician, led the investment and will join the TigerText board of directors.
“Coordinating providers around patients and sequencing the multitude of process steps required to deliver efficient and quality care requires a solution like this,” Mittendorff said.
“More than just secure communications, the TigerText offering has the potential to make healthcare safer and more efficient by reducing errors in physician consults, patient care handoffs, and improving group work inside and outside of hospitals.”
Also on the occasion, the company released a suite of new tools to enable organizations to enjoy seamless communication on any platform and any device, even in areas with poor network connectivity.
With the TigerText Anywhere initiative, the company extends its secure messaging solution to the desktop and wearables like the Apple Watch.
Arya MM
