Alida Secures $ 10 Million Debt Facility From Comerica Bank
TORONTO – (COMMERCIAL THREAD) – Alida (formerly Vision Critical), creator of the world’s first CXM & Insights platform, has secured a US $ 10 million credit facility from Comerica Bank (NYSE: CMA). Funding was provided by the Technology and Life Sciences division of Comerica Bank. The funds provide Alida with access to additional working capital and will also contribute to Alida’s aggressive growth strategy and ambitious roadmap focused on delivering cutting-edge solutions in the field of asset management. customer experience (CXM).
“Comerica is delighted to partner with Alida, its management team and its investors,” said Dave Samra, Senior Vice President, Comerica Bank Technology & Life Sciences. “The company is well positioned in the CXM space and we look forward to helping Alida meet its growth needs. ”
Leading industry analyst firms have recognized Alida as a key player in the future of CXM and Voice of Customer (VoC) markets. By uniquely combining in-depth information with broad feedback, all in a unified platform, Alida’s customer list of the world’s leading brands, including Twitter, VMware and Toyota, is able to make better decisions. business and generate world-class customer experiences.
“At Alida, we have made tremendous strides in our innovation agenda and vision over the past year. I am confident that with our experience of providing in-depth customer information, combined with our new product roadmap, there is an exciting future ahead as we continue to drive CXM innovation for our customers. current and future, ”said Ross Wainwright, CEO of Alida. “Comerica Bank’s credit facility will further strengthen Alida’s working capital position and provide the company with access to additional funds to help with investments made in a number of key growth areas for the business, all by preserving and ultimately enhancing value for our current stakeholders. ”
Since the start of 2020, with a seasoned management team at the helm, Alida has launched a number of new customer-driven products and enhancements that allow the company to become a global leader in the CXM market. The Alida product portfolio innovates through a seamless customer experience platform that supports different levels of engagement throughout the customer journey, helping Alida customers create meaningful relationships and experiences for their customers. .
“We are proud to work with Comerica as they have a solid, long-standing reputation in supporting technology companies through all phases of their growth cycles,” said Wainwright.
Comerica’s technology division serves businesses at all stages, from early-stage cash-burning to the end of the IPO, across many verticals such as SaaS, hardware, security, big data, infrastructure, e-commerce, cloud, mobile, fintech, IIOT, digital media, education, games and agricultural technology. The Comerica team in Canada has over 30 years of experience in technology banking, with product offerings that include growth capital term loans, MRR / ARR lines of credit, acquisition finance / redemption and capital call lines for venture capital funds.
About the Technology and Life Sciences Division of Comerica Bank
Comerica Bank’s Technology and Life Sciences (TLS) division remains one of the country’s leading technology banking practices, specializing in providing comprehensive banking solutions to support technology and bioscience businesses at all stages of their lifecycle. . Seasoned Bankers provide credit and financial services and products to growing young technology and life science companies, as well as their mature counterparts. The TLS division serves all major US and Canadian technology centers from coast to coast. Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned with three lines of business: commercial banking, retail banking and management of heritage. Comerica reported total assets of $ 86.3 billion as of March 31, 2021.
Alida believes in a world where customers are the ultimate source of truth. A world where the best business decisions are made with customers, not for them. That’s why Alida created the world’s first CXM & Insights platform to turn customer truth into action. For more than 20 years, iconic brands like BuzzFeed, LinkedIn and Red Bull have chosen Alida, formerly Vision Critical, as their secret weapon. Alida’s unique approach of combining broad feedback with in-depth information creates meaningful and lasting customer relationships and builds brands that stand the test of time.
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