TigerText, secure mobile messaging platform, announced a $21 million second round of funding. The new funding will be dedicated to growth and further development of the TigerText API. The API focus will concentrate on integration with EHRs, PACs, and laboratory information systems. TigerText CEO, Brad Brooks, believes that secure messaging is moving towards a new era. Instead of a compliance tool, Brooks believes secure messaging will soon be considered a value add.
“I think [the secure texting market is] in phase one, where [providers] acknowledge the issue and are taking steps to implement a solution to deal with the compliance aspect. Stage 2 is going to be ‘What are the benefits of having this service that we can derive?’ that they’re just starting to be very conscious of, and then stage 3 is ‘How do we integrate this platform into other services to increase productivity?’. We see that playing out over the next couple of years and we’re just hopeful we’re the best player to do that.”
Shasta Ventures led the new round of funding. Brooks finds the Shasta funding as a clear indication of market movement for TigerText as Shasta has a history of investing in next stage businesses. New investors participating in the second round funding include OrbiMed, Reed Elsevier Ventures, and TELUS Corporation. TigerText's existing investors; Easton Capital, New Leaf Venture Partners, and New Science Ventures; also participated in the second round of funding.
The new funding will enable TigerText to continue focus on its fremium service. Any doctor can integrate TigerText into a network and securely communicate with any other doctor on the network. Charges don't enter the service until a doctor wants administrative capabilities. TigerText envisions its integration with standard medical workflows to work similarly as the chat feature with a gmail account. For more information, visit the TigerText's developer site.