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Comerica Bank Provides $10MM Debt Facility to Alida

June 28, 2021, 08:04 AM
Filed Under: Technology
Related: Comerica Bank

Alida (formerly Vision Critical), creator of the world’s first CXM & Insights Platform has secured a $10 million debt facility from Comerica Bank. The financing was provided by Comerica Bank’s Technology and Life Sciences Division. The funds provide Alida with access to additional working capital and will also contribute to Alida’s aggressive growth strategy and ambitious roadmap centered around delivering market-leading solutions in the Customer Experience Management (CXM) space.

“Comerica is excited to partner with Alida, its management team and 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 with its growth needs.”

Leading industry analyst firms have recognized Alida as a key player in the future of the CXM and Voice of Customer (VoC) markets. By uniquely combining deep insights with broad feedback all in a unified platform, Alida’s customer roster of top global brands, including Twitter, VMware and Toyota, are empowered to make better business decisions and drive world-class customer experiences.

“At Alida, we have made huge strides in our innovation agenda and our vision over the last year. I am confident that with our track record of delivering deep customer insights, combined with our new product roadmap, there is an exciting future ahead as we continue to drive CXM innovation for our current and future customers,” said Ross Wainwright, CEO of Alida. “Comerica Bank’s debt facility will further strengthen Alida’s working capital position and provide the company with access to additional funds to contribute to investments being made into a number of key growth areas for the business, while preserving and ultimately enhancing the value for our current stakeholders.”

“We are proud to work with Comerica as they have a strong long-standing reputation of supporting technology companies through all phases of their growth cycles,” said Wainwright.

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