TigerText raises $21 million in Series B
TigerText is a real-time messaging provider that has raised $21 million in Series B funding. This round of funding was led by Shasta Ventures. Other investors that participated in this round include OrbiMed, Reed Elsevier Ventures and TELUS Corporation. Existing investors that joined this round include Easton Capital, New Leaf Venture Partners and New Science Ventures.
“2013 marked a year of strong growth for us,” stated Brad Brooks, the co-Founder and CEO of TigerText. “This new capital will help support our continued expansion efforts and fuel future growth as the demand from enterprises for our secure mobile messaging solution accelerates.”
TigerText saw their third consecutive year of triple-digit sales growth in 2013. Sales climbed over four times the previous year. TigerText works with 7% of the Fortune 500 companies and with dozens of the top 100 hospitals in the U.S.
Using the TigerText app, staff members can securely message each other from their smartphones, tablets, and computers.
TigerText recently launched a freemium service, which helped signed up 10,000 businesses in 8 weeks. Over 3 million people have downloaded the TigerText app now.