TigerConnect, a healthcare communication, collaboration, and telemedicine platform, closed a $45 million Series D investment to fuel continued investment into its telehealth and workflow collaboration platform to meet surging demand.
The round was led by healthcare-focused investor HealthQuest Capital, with additional investment coming from New Leaf Ventures, Montreux Growth Partners, Norwest Venture Partners, Invus, and Industry Ventures.
TigerConnect reported revenue growth of over 30% since the onset of COVID-19 in March. According to the company, more than 1,000 healthcare organizations use its software platform to communicate and coordinate care, improve outcomes, and treat patients remotely.
“TigerConnect is enabling the rapid and secure coordination of care at scale, the need for which has been significantly highlighted by the pandemic,” said HealthQuest Managing Partner Garheng Kong.
As part of the investment, Garheng Kong has joined the Board of Directors of TigerConnect.
The company will use the proceeds to expand investment in product development and professional services to meet the growing need for advanced, easy-to-use, integrated collaboration solutions.
“The COVID-19 pandemic is a watershed moment in care delivery. With unprecedented pressures on operations, health systems must be more connected, efficient, and capable of meeting patients wherever they are,” said TigerConnect co-founder and CEO Brad Brooks.
Brad Brooks added: “TigerConnect is in a unique position to help hospitals turn the page on antiquated systems to get more done – and improve outcomes. Although we were not actively looking to raise capital, we were impressed by HealthQuest’s healthcare expertise and health system knowledge. We look forward to partnering with the HealthQuest team as we unite collaboration and patient engagement in one organic experience and scaling our solution to meet the soaring demand for telehealth and collaboration tools worldwide.”
The company also said its telehealth solution, TigerTouch, has seen rapid growth since its launch in March, with nearly 150,000 unique patients treated over that period.
Founded in 2010, TigerConnect has raised over $150 million to date. The company employs more than 100 people with an office in Santa Monica, California.
