Provider of secure communications platform TigerText has raised $50 million in Series C round to “accelerate the rapid market adoption” of its messaging app. The company also released a suite of new tools for seamless communication on any platform and any device, even in areas with poor network connectivity.
Norwest Venture Partners led the financing with participation from Invus Group and Accolade Partners, as well as return backers Shasta Ventures, OrbiMed, and Reed Elsevier from the company’s previous Series B financing. As part of the deal Dr. Robert Mittendorff, Norwest’s principal and board certified emergency physician, will join the TigerText board of directors.
As for that newly unveiled TigerText Anywhere initiative, it will help the company extend its messaging solution to the desktop and wearables like the Apple Watch. In addition, the incorporation of the industry’s first Low Connectivity Protocol (LCP) will ensure that messages sent using TigerText will get delivered where other messaging solutions fail. This, as you may assume, is especially important in healthcare setting where nursing or lab personnel can’t carry personal phones while on the job.
TigerText’s customer base counts more than 250,000 paying users, including 4 of the 5 largest for-profit health systems in the U.S.Existing TigerText customers have managed to save millions through improved response times, reduced readmission rates, increased the number of filled prescriptions, the ability to see more patients, and optimized post-stay patient follow-up.
“With over 250,000 paying users including 4 of the 5 largest for-profit health systems in the nation, TigerText has reached the scale necessary to truly improve the quality of care our healthcare customers deliver, while at the same time reducing the costs to do so,” said Brad Brooks, co-founder and CEO of TigerText. “By connecting electronic health records, critical alerts, real time shift data, and other essential components of patient care and productivity, we think that secure, real-time messaging could save the healthcare industry $30-$50 billion a year.”