Experience management platform Alida grabs C$60m credit facility

• The facility’s proceeds will be used to support capital requirements and strategic initiatives as Alida continues on its growth strategy
• Alida has worked with brands like HBOMax, Adobe, Red Bull and J.Crew
• Its investors include Round13 Growth Fund, BMO Capital Partners, Georgian, OMERS Ventures, Vistara Capital Partners and W Capital Partners

Alida, a Toronto-based customer experience management and customer insights platform, has secured a $60 million syndicated credit facility. The lead lender was National Bank of Canada through its Technology and Innovation Banking Group. Other co-lenders included BMO, Comerica and Silicon Valley Bank.

The facility’s proceeds will be used to support capital requirements and strategic initiatives as Alida continues on its growth strategy centered around providing customer, employee, product and brand experiences.

“The funding from National Bank reflects the confidence that has been instilled in our future business prospects, financial health, and our success as leaders in the customer experience industry,” said Ross Wainwright, CEO at Alida, in a statement. “With this new financing agreement, Alida is well positioned to continue expanding our innovative product portfolio to meet the fast-evolving needs of our customers.”

Over the past two years, the company has enhanced its Total Experience Management, delivering over 20 new products and 195 enhancements. It has worked with brands like HBOMax, Adobe, Red Bull and J.Crew.

Alida last year raised C$23 million in a Series D financing led by Round13 Growth Fund. Its other investors include BMO Capital Partners, Georgian, OMERS Ventures, Vistara Capital Partners and W Capital Partners.