CIBC provides debt facility to venture-backed AlayaCare

CIBC Innovation Banking, the technology lending arm of CIBC, has provided Montreal-based AlayaCare with a C$15 million debt facility.

CIBC Innovation Banking, the technology lending arm of CIBC, has provided Montreal-based AlayaCare with a C$15 million debt facility. AlayaCare, a provider of cloud-based home care software, earlier in 2020 secured US$37 million in financing led by Caisse de dépôt et placement du Québec and Inovia Capital.

PRESS RELEASE

CIBC Innovation Banking is pleased to announce a $15 million growth capital financing for Montreal-based AlayaCare. As demand for home care continues to rise, this debt facility will support the company’s strategic plan to increase its presence in North America and Australia.

AlayaCare provides data-driven, cloud-based home care software that delivers innovative caregiver solutions, such as simplified billing, remote patient monitoring and a mobile app. Backed by Inovia Capital, Caisse de Depot et placement du Quebec, and Investissement Quebec, the platform helps improve quality of care, optimize operations and enables agencies to deliver a client-centric experience.

“We are excited to work with AlayaCare,” said Eric Laflamme, Managing Director Quebec Region, CIBC Innovation Banking. “The platform helps patients receive care in the place they call home, while leveraging data insights to improve outcomes. The company’s growth over the last year makes it even more evident that there’s a need for remote caregiving solutions.”

“Our mission to help clients deliver better outcomes is more important than ever before, as health care systems around the world have had to adapt how they care for patients because of the pandemic,” said Adrian Schauer, CEO & Founder, AlayaCare. “With the support of CIBC Innovation Banking, we can accelerate our growth and innovation as the industry continues to evolve, and focus on delivering transformative technology for improved health outcomes.”

About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.

About AlayaCare Inc.
AlayaCare’s unique platform offers a complete technology solution to manage the entire client lifecycle including referrals and intake, scheduling, coordination, client health records, clinical documentation, care worker management, billing and payroll, reporting, remote patient monitoring, and a mobile caregiver app in one integrated, highly robust and secure, cloud-based system. AlayaCare is providing the platform for home and community care organizations to propel towards innovation and home care of the future. AlayaCare was founded in 2014.