CIBC Innovation Banking Provides AlayaCare with $50 Million Growth Capital Facility
CIBC Innovation Banking announced today the provision of a $50 million growth capital facility to AlayaCare Inc., a leading provider of innovative home and community care software solutions. The financing will support AlayaCare’s continued growth as well as strategic mergers and acquisitions, furthering its mission to transform the delivery of care across Canada, the U.S., and globally.
AlayaCare provides data-driven, cloud-based software that delivers innovative solutions for home and community-based care, such as simplified billing, remote patient monitoring and a mobile app. CIBC has supported AlayaCare since 2014, when the company was founded.
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“AlayaCare’s journey from its inception to becoming a global leader in caregiver solutions is a testament to the power of innovation,” said Eric Laflamme, Managing Director, CIBC Innovation Banking. “The company’s outstanding management team has consistently demonstrated vision and execution, and we are proud to support this next phase of growth. AlayaCare’s success reflects CIBC Innovation Banking’s commitment to empowering early-stage technology companies to achieve global expansion, supporting growth at every stage and across international markets.”
“We are excited to continue working with CIBC Innovation Banking as we accelerate AlayaCare’s growth and pursue new opportunities in the market,” said Adrian Schauer, CEO of AlayaCare Inc. “This financing will enable us to further invest in our technology and expand our impact, helping care providers deliver better outcomes for their clients.”
AlayaCare is supported by Inovia Capital, Generation Investment Management, La Caisse, Investissement Quebec, and Klass Capital.
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