TigerConnect, founded in 2010 and headquartered in Santa Monica, California, is a leading provider of clinical communication and collaboration solutions for the healthcare industry. The company offers a cloud-native platform designed to enhance care team collaboration, streamline workflows, and improve patient outcomes.
Company Overview
TigerConnect's platform encompasses a range of solutions, including:
- Clinical Collaboration Platform: Facilitates secure messaging and communication among healthcare professionals.
- Alarm Management and Event Notification: Manages clinical alerts to reduce alarm fatigue and improve response times.
- Patient Engagement: Enables direct communication between care teams and patients.
- Physician Scheduling: Automates scheduling to optimize resource allocation.
As of 2023, TigerConnect serves over 7,000 healthcare organizations and 700,000 care team members, processing more than 10 million messages daily with a 99.995% uptime.
Market Position and Growth
TigerConnect has demonstrated significant growth and market recognition:
- Inc. 5000 Recognition: The company was named to the Inc. 5000 list of fastest-growing private companies in America for two consecutive years, ranking No. 3,297 in 2022 and No. 3,951 in 2023.
- Strategic Investments: In January 2022, TigerConnect secured a strategic growth investment from Vista Equity Partners to further its mission of improving patient care through real-time, contextual communications.
- Series D Funding: In October 2020, the company closed a $45 million Series D investment led by HealthQuest Capital, aimed at expanding its telehealth and workflow collaboration platform.
Industry Trends and Market Dynamics
Several factors are influencing the healthcare communication and collaboration market:
- Aging Population: The U.S. population aged 65 and older is projected to reach 94 million by 2060, increasing demand for healthcare services.
- Telehealth Adoption: The global telehealth market is expected to reach $175.5 billion by 2026, growing at a CAGR of 21.1%, indicating a shift towards digital health solutions.
- Regulatory Compliance: Adherence to regulations like HIPAA is crucial, with the average cost of a healthcare data breach reported at $10.1 million per incident as of 2023.
Competitive Landscape
TigerConnect operates in a competitive market with several key players:
- Vocera Communications: Offers clinical communication solutions focusing on voice communication and workflow optimization.
- Spok Holdings: Provides healthcare communication solutions, including secure messaging and paging services.
- Imprivata: Specializes in digital identity and authentication solutions for healthcare.
TigerConnect differentiates itself through its comprehensive, integrated platform that addresses multiple aspects of clinical communication and collaboration.
