Daniel from Improve Press
ShiftKey, a startup that connects healthcare staff 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 via a continuation automobile led by the Ares Administration Secondaries funds and Pantheon. Different buyers collaborating within the increase 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 stated 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, stated in a press release. “Our imaginative and prescient is to empower nurses and different licensed professionals via the mix of our core market product together with extra know-how and instruments reminiscent of scheduling, funds, training and credentialing. We’re appreciative of the assist of our buyers who share on this goal.”
MARKET SNAPSHOT
Workers shortages proceed to be a critical concern for the healthcare sector, contributing to mounting monetary pressure on hospitals.
“Each side 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 might mount,” stated Erik Swanson, senior vp of information and analytics with Kaufman Corridor, in Healthcare Finance Information.
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% stated their need to depart the occupation elevated dramatically for the reason that pandemic. Thirty % stated 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 massive funding rounds. In August, nurse staffing market Unimaginable Well being scooped up $80 million in Sequence B funding, boosting the startup’s valuation to $1.65 billion.
Nomad Well being, a web based job portal for short-term healthcare staff, introduced a $105 million increase 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.
