TigerConnect Secures $300M Private Equity Investment

TigerConnect Secures $300M Private Equity Investment
TigerConnect’s cloud-based platform enables doctors, care providers, patients and other to share information.

Santa Monica-based health tech communications platform provider TigerConnect Inc. has received a $300 million investment from New York-based private equity firm Vista Equity Partners Management, the company announced Jan. 11.

The investment — by far the largest in TigerConnect’s 12-year history — brings the total amount raised to about $400 million. The company intends to use the funds to grow its staff and expand the capabilities of its communications platform.

TigerConnect was founded in Santa Monica in 2010 as TigerText by investment and entertainment executive Brad Brooks and his physician brother Andrew Brooks as a way to help companies maintain control over employee texts and communications. The company, with Brad Brooks as chief executive and Andrew Brooks as chief medical officer, soon turned its focus to helping health care providers manage their communications networks and in 2018 rebranded as TigerConnect.

The company uses a cloud-based communications and workflow platform that enables doctors, medical specialists, nurses, home health care providers, patients and administrative personnel to share information such as appointments, diagnoses, medication prescriptions and usage, as well as procedures performed.

Electronic medical records systems in hospitals perform some of these tasks but don’t allow interactions with patients and typically aren’t used to book appointments. TigerConnect’s platform is also used in a wider variety of health care settings than electronic medical records systems; according to the company, the platform has been used by more than 7,000 health care organizations.

“In 2010, the notion of a universal communication and workflow platform for health care did not exist, and TigerConnect transformed that,” Andrew Brooks said in the announcement. “TigerConnect’s vision remains to improve outcomes for patients and enhance the daily lives of physicians, nurses and everyone involved within the health care system.”

Vista Equity’s $300 million investment in TigerConnect is coming from its Foundation Fund, which invests in middle-market enterprise software, data and technology-enabled companies.

“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,” Ryan Atlas, managing director at Vista Equity Partners, said in the announcement.
TigerConnect will use the funds to add staff and continue to expand its communications platform.

In recent years, the company has added nurse alarm management, event notification, physician scheduling and patient-focused applications to its platform.

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