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ShiftKey, a startup that connects healthcare employees and services with open shifts, raised $300 million, bringing its valuation to greater than $2 billion.
First reported by Axios, the spherical was led by majority investor Lorient Capital and accomplished by way of a continuation car led by the Ares Administration Secondaries funds and Pantheon. Different buyers taking part within the elevate embrace Clearlake Capital and Well being Velocity Capital.
WHAT THEY DO
ShiftKey provides a platform that lets nursing, licensed nursing assistants and different healthcare professionals seek for per diem shifts of their space, bid on these shifts and construct their schedules.
The Dallas-based firm mentioned it has labored with hundreds of licensed healthcare professionals throughout greater than 10,000 services throughout the nation.
“Nurses proceed to decide on to work on their very own phrases,” Tom Ellis, founder and CEO of ShiftKey, mentioned in a press release. “Our imaginative and prescient is to empower nurses and different licensed professionals by way of the mixture of our core market product together with extra expertise and instruments comparable to scheduling, funds, schooling and credentialing. We’re appreciative of the help of our buyers who share on this goal.”
MARKET SNAPSHOT
Employees shortages proceed to be a severe concern for the healthcare sector, contributing to mounting monetary pressure on hospitals.
“Each facet of affected person care — from being admitted, to therapy, to discharge — is affected by the labor scarcity and, as we head into the virus season and potential new waves of COVID-19, the pressures on hospitals and their employees may mount,” mentioned Erik Swanson, senior vice chairman of knowledge and analytics with Kaufman Corridor, in Healthcare Finance News.
Within the wake of the COVID-19 pandemic, supplier burnout additionally elevated. In a 2022 survey of about 1,800 nursing professionals and college students, 28% mentioned their need to depart the career elevated dramatically because the pandemic. Thirty p.c mentioned they plan to remain in nursing for the foreseeable future, however 23% plan to search for a brand new profession in a single to 2 years, and 13% plan to retire in a single to 5 years.
Different corporations providing healthcare staffing platforms have not too long ago raised giant funding rounds. In August, nurse staffing market Incredible Health scooped up $80 million in Sequence B funding, boosting the startup’s valuation to $1.65 billion.
Nomad Well being, an internet job portal for non permanent healthcare employees, announced a $105 million elevate over the summer time. In April, nurse staffing platform IntelyCare scooped up $115 million in Sequence C funding, bumping the corporate’s valuation to $1.1 billion.
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