CIBC Innovation Banking Provides AlayaCare with $50 Million Growth Capital Facility

MONTREAL--(BUSINESS WIRE)--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.

"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.

About CIBC Innovation Banking

CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC Innovation Banking now has over $11 billion in funds managed, including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation. Innovationbanking.cibc.com

About Alaya Care Inc.

AlayaCare is an end-to-end platform designed to serve public, private, and non-profit home-based and community care organizations that manages the entire client lifecycle, including needs assessments, care plans, scheduling, visit and route optimization, and visit verification. Founded in 2014 and now with over 600 employees, AlayaCare combines traditional in-home and virtual care solutions that enable care providers to lower the cost of care and achieve better outcomes for their clients. For more information, visit: AlayaCare.com