Vista Equity Partners invests $300 million in healthcare communications software company TigerConnect

Healthcare collaboration software maker TigerConnect has secured a $300 million growth investment from Vista Equity Partners to expand its healthcare collaboration platform, the company confirmed on Tuesday.

TigerConnect provides a suite of HIPAA-compliant software tools to over 7,000 healthcare organizations. The solutions help improve communication within the healthcare team to enable providers to provide better patient care while reducing costs.

Vista Equity Partners, a firm that invests in enterprise software and technology companies, has a track record of helping companies like Allocate Software Group and Relias Learning scale, skills TigerConnect hopes to leverage through the new partnership.

“At TigerConnect, we are focused on improving the care experience for providers and patients, starting with access to real-time, contextual communication and collaboration at every step of the care journey” , said Brad Brooks, co-founder and CEO of TigerConnect, in a press release. “We believe that Vista’s expertise in partnering with founder-led and market-leading enterprise software companies, coupled with our shared values, aligns strongly with our mission to deliver advanced collaboration technologies. that improve the delivery of care.”

Founded in 2010, TigerConnect has facilitated more than 3 billion clinical messages exchanged on its platform in 2021 as well as more than 1 million exchanges with patients and their families.

The company last landed a $45 million Series D funding round in October 2020.

RELATED: TigerConnect Lands $45M Series D Investment in Healthcare Collaboration Platform

The software maker has also added tools for nurse alarm management, event notification, physician scheduling and patient engagement.

“This investment underscores our company’s belief in clinical collaboration and communication as an essential part of the patient care process and a market in which we expect increased demand and growth in the coming years.” said Ryan Atlas, managing director of Vista Equity Partners, in a statement. “We look forward to our partnership with TigerConnect and its team, who are at the forefront of revolutionary change in how healthcare professionals communicate with each other and with patients to optimize experiences and outcomes. “

Healthcare providers have been stuck for years using outdated technologies like pagers and fax machines.

But these tools are not only clumsy, they can create dangerous circumstances for the patient. Communication failures between providers can result in key clinical information being lost in translation or never being documented, which can lead to inappropriate diagnoses or treatments.

The COVID-19 pandemic has created an urgent need for improved clinical communication, which TigerConnect has capitalized on.

RELATED: Healthcare broke VC funding records in 2021 despite poor market performance

Vendor operating tools dominated healthcare fundraising in 2021, as well as alternative care, creating a banner year for healthcare technology companies.

Cohere Health, one of the Fierce Healthcare 15 winners of 2022, also offers a platform that helps health plans, providers, and patients communicate.

“In 2010, the notion of a universal healthcare communication and workflow platform didn’t exist, and TigerConnect transformed that,” said Andrew Brooks, MD, co-founder and physician- head of TigerConnect, in a statement. “With Vista, TigerConnect’s vision remains to improve patient outcomes and improve the daily lives of doctors, nurses, and everyone involved in the healthcare system.”