Connexient and Riverside Acceleration Capital have closed an investment and partnership to boost Connexient's growth and leadership position in Enterprise Digital Wayfinding, Mapping and Indoor Navigation Services. Connexient's existing investors also contributed to the round.
Since its launch in January 2015, Connexient's MediNav™ has become the best-of-breed solution for healthcare, with a rapidly growing client base of 28 healthcare networks. MediNav™ is more than just a mobile app; it provides all screens digital wayfinding, the world's most advanced true turn-by-turn indoor navigation, and rich location-based services to enhance patient experience, improve HCAHPS scores and reduce late or missed appointments.
"Connexient pioneered and defined a new space for Enterprise Indoor Mapping, Navigation and Location Services," said Riverside Acceleration Capital Managing Director Jim Toth. "We share their vision for how this will become a new critical layer in the Enterprise IT stack for IOT in Smart Buildings that will drive efficiency and transformation in large, complex facilities. More importantly, they have proven their ability to execute and deliver this Platform-as-a-Service at scale, with over 60M SF and counting."
Riverside Acceleration Capital provides funding to accelerate growth through sales investment, product evolution, and expansion into new markets. Riverside Acceleration Capital is a long-term partner with the resources to support companies across their entire lifecycle. It is part of The Riverside Company, a global investment firm with more than $7 billion in assets under management, and 30 years of knowledge and experience growing small businesses.
"We are delighted to join the Riverside family," said Mark Green, CEO and Co-founder at Connexient. "Their combination of deep resources and expertise in healthcare is a tremendous value add. Riverside's long term vision and deep capital base further enables Connexient to meet the needs of our clients and seize this enormous market opportunity."
Connexient (www.connexient.com) provides innovative Indoor Mapping, Navigation and Location-based Services for Enterprises with large, complex buildings and campuses. The MediNav™ Navigator Edition Patient Experience solution helps hospitals and healthcare networks to increase customer satisfaction and loyalty, reduce missed or late appointments and improve HCAHPS scores.
More than just a mobile app, Connexient's mission and vision is to navigation-enable Enterprise IT. The Connexient Mobile Application SDKs and Web APIs enable its clients to integrate its rich, navigation quality indoor maps and location-based services across Enterprise IT in areas such as asset tracking, staff and patient flow, facility management, safety and security and more, with use cases that bring compelling value to users and direct ROI in capturing lost revenue, reducing costs and increasing operational efficiency and intelligence.
About Riverside Acceleration Capital:
Riverside Acceleration Capital (RAC) provides flexible growth capital to expansion-stage B2B software and technology companies, though an investment structure that maximizes alignment while minimizing dilution. RAC is part of The Riverside Company, a global private equity firm with $7.3 billionin assets under management. Riverside makes control and non-control investments into growing businesses valued up to $400 million.