CIBC Innovation Banking Provides Aktana with $20 Million Growth Financing

CIBC Innovation Banking has closed a $20 million debt financing for San Francisco-based Aktana Inc.

“We look forward to working with the CIBC Innovation Banking team to help us execute on our business strategy and goals by providing a flexible approach to the capital needs of our business”

Using embedded AI and machine learning refined by real-time human insight, Aktana gives life sciences commercial teams the tools and information to anticipate customer needs and coordinate a cohesive experience across channels that is relevant, personalized and highly effective. This allows for better engagement between commercial teams and healthcare providers (HCPs) and ultimately better patient care. With its proven framework for intelligent engagement, Aktana has helped more than half of the world’s top-20 pharmaceutical companies put complex data into context, coordinate channel activity, and generate sales lift of up to 15%.

Read More: Cybercrime Damage Expected to Hit $6 Trillion Mark Annually by 2021

“Led by a team with deep experience in both technology and life sciences, Aktana is developing innovative and intelligent solutions for its customer base of large life sciences companies,” said Jeff Chapman, a Managing Director in CIBC Innovation Banking’s Menlo Park office. “Aktana is disrupting the industry and we’re pleased to support the next stage of the company’s growth.”

Read More: ADCB Launches Real Time Trade Finance For Customers on dltledgers Blockchain Platform

“We look forward to working with the CIBC Innovation Banking team to help us execute on our business strategy and goals by providing a flexible approach to the capital needs of our business,” said David Ehrlich, President and CEO, Aktana.

Aktana is backed by HLM Venture Partners, Leerink Partners, SafeGuard Ventures and Starfish Ventures.

Read More: Amazon Brings AI Performance to the Cloud with NVIDIA T4 GPUs