Alida obtains $20 million Series D funding to fuel expansion

Customer experience management company Alida closed a $20 million Series D funding round led by Round13 Growth Fund.

The Round13 Growth Fund, a late stage growth equity investment fund, is part of the Round13 Capital family of funds.

The startup plans to use the funding to fuel its global expansion, invest in mergers and acquisitions, and build on the company’s product roadmap to deliver SaaS solutions in the customer experience management industry.

Sanjiv Samant, managing partner of Round13 Capital will join Alida’s board of directors.

Founded in Vancouver in 2000 as Vision Critical, Alida claims to have created “the world’s first combined CXM and Insights platform.”

The startup serves companies in four sectors: financial services, healthcare, retail, and technology, with the majority of its business currently in tech. Alida’s clients range from Twitter, VMware, and Toyota to Canadian Tire and Home Hardware.

RELATED: Alida secures $12.3 million CAD debt facility to pursue product-driven expansion

Since the start of 2020, Alida has released 123 new product innovations and seven new Alida solutions.

This is the second equity investment for the company since a $20 million investment by OMERS in 2012. The funding follows $12.3 million in debt financing in June, secured through Comerica Bank. As Vision Critical, the startup also raised nearly $27 million CAD in growth debt financing in July 2020 from Vistara Capital Partners.

Alida swapped CEOs in December 2019, adding Ross Wainwright following some slower than expected growth and a period of infighting between former CEO Angus Reid (father of Alida founder Andrew Reid) and the company’s directors and shareholders at the time. Scott Miller replaced Andrew Reid as CEO in 2012, and served in the role until Wainwright took over.

During the pandemic, a number of Alida employees launched Vaccine Finder Toronto, a free online community tool that aims to help Torontonians navigate evolving COVID-19 vaccine protocols and get vaccinated faster.

The team behind the tool included Daniel Charles, VP of technology, Ian McIlwain, web strategy manager, Madeleine Bailey, user experience designer, and Mostafa Drz, engineering manager – Alida employees based out of the company’s Toronto headquarters.

Charles Mandel

Charles Mandel

Charles Mandel's reporting and writing on technology has appeared in Wired.com, Canadian Business, Report on Business Magazine, Canada's National Observer, The Globe and Mail, and the National Post, among many others. He lives off-grid in Nova Scotia.