Cipherhealth Secures Funding from CIBC Innovation Bank to Accelerate Growth

By CIO Applications| Tuesday, August 18, 2020

CipherHealth’s portfolio of patient engagement software empowers healthcare organizations to foster meaningful connections to guarantee the best possible results for staff members, patients, and their loved ones

FREMONT, CA: CipherHealth, a NYC-based provider of healthcare technology solutions for patient engagement and communication, received growth capital financing from CIBC Innovation Banking. The funding will enable CipherHealth to accelerate growth by further expanding its operations, go-to-market programs, and platform innovation.

Backed by JMI Equity, hundreds of healthcare organizations across the U.S. rely on CipherHealth’s telehealth platform to connect and interact with their patients and care teams. CipherHealth’s portfolio of solutions enables communications across the entire care continuum, ensuring patients feel safe and supported regardless of how they access their care, whether in an inpatient setting, at a doctor’s office, at home, or virtually.

“CipherHealth’s customers have consistently shared that its digital engagement platform is critical to improving patient care and outcomes,” said Paul Gibson, Managing Director in CIBC Innovation Banking’s Mid-Atlantic office. “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.”

Ever since the beginning of the global health crisis, CipherHealth has deployed nearly 2 million calls and texts to screen and monitor patients and staff alike to help customers remain agile during the rapidly evolving environment.

“CIBC Innovation Banking understands the critical nature of our digital engagement platform as healthcare providers look to modernize and digitally transform their patient engagement systems and processes,” said CipherHealth President and COO, Jake Pyles. “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.”

CipherHealth has been featured as one of the Top 10 Healthcare Communication Solution Providers – 2019 by Healthcare Tech Outlook Magazine.