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ShiftMed, an on-demand workforce management marketplace, secures $200 million in funding in a round led by healthcare investors Panoramic Ventures, additionally with Blue Heron Capital and Audacious Capital. The funds will contribute to an expansion of ShiftMed’s national footprint across all angles of the healthcare market.
ShiftMed disrupts the healthcare industry by connecting more than 350 000 credentialed nursing professionals searching for a job with healthcare providers in demand for additional nursing help. Number one nursing jobs mobile app on the App Store, ShiftMed serves more than 1500 enterprise healthcare partners by providing scalable and cost-efficient labor.
Founded in 2019, the platform uses mobile and cloud-based software to solve the staffing challenges that most healthcare providers encounter. The platform enables streamlining and automation of staffing efforts through an employee management software. Additionally, with ShiftMed, health systems can increase retention and offer more part-time work positions. Further, it decreases reliance on travel agencies by providing access to local healthcare professionals, which reduces operating expenses. ShiftMed offers a considerable network of experienced CNAs, STNAs, GNAs, LPNs, and RNs prepared to work on a per diem, short-term, long-term, or permanent basis.
Healthcare providers continue to struggle with access to credentialed workers as patient needs and volume continues to rise. ShiftMed is positioned to provide health systems with a regulatory-compliant W-2 solution that leverages local and part-time resources.
- Todd Walrath, CEO of ShiftMed
Through an in-app feature, ShiftMed enables healthcare professionals to access up to 75% of their pre-tax earnings anytime and anywhere without any transaction fees. Additionally, the platform offers healthcare benefits, holiday pay rates, and bonuses, creating a trustworthy, safe working environment.
Healthcare Providers need solutions that streamline workforce management, bring labor costs back into balance and improve patient outcomes with better care. We see ShiftMed’s growth as validation for the market need. The team continues to execute against a multi-billion market opportunity.
- Paul Iaffaldano, General Partner of Panoramic Ventures
Operating in 110 markets, ShiftMed expands its scope, providing opportunities and benefits for healthcare professionals as well as healthcare provider partners.
