Monday, January 27, 2014

TigerText Raises $21M For Secure Messaging

Santa Monica-based TigerText, the developer of secure, enterprise real time messaging systems led by Brad Brooks, announced this morning that it has raised $21M in a Series B funding round. The new funding was led by Shasta Ventures, and also included OrbiMed, Reed Elsevier Ventures, and TELUS Corporation, along with prior investors Easton Capital, New Leaf Venture Partners, and New Science Ventures. TigerText develops secure, enterprise messaging systems which replace insecure texting, and which have been broadly adopted by hospitals to ensure compliance with patient privacy laws. The company also has an expanding base of customers in the enterprise market According to TigerText, the round comes after it more than quadrupled its sales in 2013, and will help to go towards accelerating market penetration. More information »