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.

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%.

“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."

“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.

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada. CIBC Innovation Banking is a brand name under which CIBC and CIBC Bank USA provide products and services.

About Aktana

Aktana is the pioneer in AI-enabled decision support for the global life sciences industry. Its proprietary platform harnesses machine learning algorithms to enable commercial teams to seamlessly coordinate and optimize multichannel engagement with healthcare professionals. Committed to customer success and innovation, Aktana supports more than 100 brands worldwide to capitalize on data investments, drive productivity, and continually enhance campaign performance. More than half of the top 20 global pharmaceutical companies are Aktana customers. Headquartered in San Francisco, Aktana also has offices in Philadelphia, London, Barcelona, Tokyo, Osaka, Shanghai, Beijing, Sydney, and Sao Paulo.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190925005202/en/

CIBC: Jeff Chapman [email protected]
Aktana: Jill Bongiorni [email protected]