CIBC Innovation Banking puts $22.5 mln to work in TigerConnect

CIBC Innovation Banking has provided US$22.5 million of debt financing to TigerConnect, a Santa Monica, California-based clinical communication solutions platform. Founded in 2010, TigerConnect helps physicians, nurses and other staff in over 4,000 healthcare organizations communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. Its investors include Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.

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