Vancouver-founded SaaS startup Alida has secured a $60 million USD syndicated credit facility in its aim for long-term growth.
The debt financing was led by the National Bank of Canada through its Technology and Innovation Banking Group. Co-lenders include BMO, Comerica, and Silicon Valley Bank.
According to Alida, the funding will support “capital requirements and strategic initiatives” in line with its growth strategy, but was vague in exact details about its plans.
Founded in 2000, Alida (formerly Vision Critical) touts it has created the world’s first combined customer experience management (CXM) and insights platform. The startup’s offering allows brands to access direct and indirect customer data, identify areas of opportunity, and transform customer feedback into actionable insights.
Alida onboarded Lululemon, Sally Beauty, and HBO Max as customers this year.
Over the past two years, Alida claims that it delivered over 20 new products and 195 enhancements. Its customers include the likes of HBOMax, Adobe, Red Bull, and J.Crew.
Founded in Vancouver, Alida moved its headquarters to Toronto at the end of 2019, at the same time Ross Wainwright took over as CEO from Scott Miller.
Last year, Alida secured around $33 million which includes $10 million in debt financing, and a cumulative $23 million raise for its Series D round. The company also secured $20 million USD in growth debt financing in 2020, the same year that the company adopted the name Alida.
RELATED: Alida set to expand into Alberta with new Edmonton office, plans to hire over 100
In its aim to grow in North America and beyond, Alida opened an office in Edmonton earlier this year with the intention to hire 100 employees by 2025. It has also selected Czech Republic as a new region of focus for its R&D operations, and launched a data center in Sydney, Australia.
Alida claims to have met a number of its goals over the last year in a continued growth trajectory. The startup claimed these goals include onboarding organizations like Lululemon, Sally Beauty, and HBO Max as customers.
Featured image courtesy Alida.