Alida (formerly Vision Critical), creator of a customer experience management (CXM) and insights platform, secured a $10 million debt facility from Comerica Bank. The financing was provided by Comerica Bank’s technology and life sciences division. The funds provide Alida with access to additional working capital and will also contribute to Alida’s growth strategy and roadmap centered around delivering solutions in the CXM space.

“Comerica is excited to partner with Alida, its management team and investors,” Dave Samra, senior vice president of Comerica Bank’s technology and life sciences division, said. “The company is well-positioned in the CXM space and we look forward to helping Alida with its growth needs.”

“At Alida, we have made huge strides in our innovation agenda and our vision over the last year. I am confident that with our track record of delivering deep customer insights, combined with our new product roadmap, there is an exciting future ahead as we continue to drive CXM innovation for our current and future customers,” Ross Wainwright, CEO of Alida, said. “Comerica Bank’s debt facility will further strengthen Alida’s working capital position and provide the company with access to additional funds to contribute to investments being made into a number of key growth areas for the business while preserving and ultimately enhancing the value for our current stakeholders. We are proud to work with Comerica, as they have a strong, long-standing reputation of supporting technology companies through all phases of their growth cycles.”