CIBC Innovation Banking provided growth capital financing for CipherHealth, a provider of healthcare technology solutions for patient engagement and communication. The funding will enable CipherHealth to accelerate growth by further expanding its operations, go-to-market programs and platform innovation.
Backed by JMI Equity, CipherHealth’s telehealth platform helps health care providers connect and communicate with their patients and care teams. Since the onset of the COVID-19 pandemic, CipherHealth has deployed nearly 2 million calls and texts to screen and monitor patients and staff alike.
“CipherHealth’s customers have consistently shared that its digital engagement platform is critical to improving patient care and outcomes,” Paul Gibson, managing director in CIBC Innovation Banking’s Mid-Atlantic office, said. “We were impressed by their agility and fast response to the global pandemic, launching a suite of solutions that enables healthcare systems, hospitals and medical groups to manage critical communications with patients and staff.”
“CIBC Innovation Banking understands the critical nature of our digital engagement platform as health care providers look to modernize and digitally transform their patient engagement systems and processes,” Jake Pyles, president and COO of CipherHealth, said. “Their tailored credit and treasury management solutions are vital for us to stay agile and support the expansion of our operations, products, platform and go-to-market initiatives.”
CIBC Innovation Banking delivers advice, cash management and funding to North American companies from startup to IPO and beyond.