CIBC Innovation Banking provided a $15 million growth capital financing to AlayaCare. The debt facility will support AlayaCare’s plan to increase its presence in North America and Australia.
AlayaCare provides data-driven, cloud-based home care software that delivers caregiver solutions, such as simplified billing, remote patient monitoring and a mobile app. The company is backed by Inovia Capital, Caisse de Depot et placement du Quebec and Investissement Quebec.
“We are excited to work with AlayaCare,” Eric Laflamme, managing director of the Quebec region for CIBC Innovation Banking, said. “The platform helps patients receive care in the place they call home, while leveraging data insights to improve outcomes. The company’s growth over the last year makes it even more evident that there’s a need for remote caregiving solutions.”
“Our mission to help clients deliver better outcomes is more important than ever before, as healthcare systems around the world have had to adapt how they care for patients because of the pandemic,” Adrian Schauer, CEO and founder of AlayaCare, said. “With the support of CIBC Innovation Banking, we can accelerate our growth and innovation as the industry continues to evolve, and focus on delivering transformative technology for improved health outcomes.”
