TigerConnect, the US-based healthcare collaboration software developer backed by telecommunications firm Telus and professional information and analytics provider Relx, has closed a $45m series D round.
Growth capital firm HealthQuest Capital led the round, which included New Leaf Venture Partners, Montreux Growth Partners, Norwest Venture Partners and Industry Ventures.
Founded in 2010 as TigerText, TigerConnect has built a software platform with more than 750,000 registered users that lets hospital clinicians communicate securely with patients and team members through text, voice and video. It also offers telemedicine tools for remote patient consultations.
TigerConnect will spend the series D money on refining its product and hiring more professional specialists. Garheng Kong, managing partner at HealthQuest Capital, has joined its board of directors.
The company has now raised a total of $149m in equity and debt financing, according to press releases and media reports, including $22.5m in debt from CIBC Innovation Banking, part of banking firm Canadian Imperial Bank of Commerce, in mid-2018.
Norwest Venture Partners had previously led a $50m series C round closed in 2015 that included Relx – then called Reed Elsevier – as well as Invus Group, Accolade Partners, Shasta Ventures and OrbiMed.
Reed Elsevier Ventures, the Relx corporate venturing unit now called REV Venture Partners, had joined Telus in a $21m series B led by Shasta Ventures in 2014, investing with Easton Capital, New Leaf Venture Partners and New Science Ventures.