ShiftMed Raises $45 Million Led by Panoramic Ventures and Healthworx To Support Growth of Leading Digital Health Care Workforce Management Platform
- With 400% Growth in 15 Months, ShiftMed Expands Into 56 Markets as Part of National Roll-Out
ShiftMed, one of the largest workforce management platforms in health care with over 60,000 credentialed health care professionals, has raised $45 million led by health care investors, Panoramic Ventures and Healthworx, the innovation and investment arm of CareFirst Holdings, LLC. Existing investors Blue Heron Capital, Motley Fool Ventures and 3TS Capital Partners participated in the round. Funds will be used to expand its national footprint, and to continue to build the industry-leading product suite.
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“Now more than ever, credentialed caregivers are needed to support our hospital, post-acute, and in-home business segments. ShiftMed’s software platform allows our customers real-time access to the workers they need,” said Todd Walrath, CEO of ShiftMed.com. “We are excited to accelerate our mission of building a global community of engaged health care professionals.”
“Healthcare companies leveraged ShiftMed to care for more than 200,000 patients in Q3 2021. We believe the company has the scale to be an important player in the health care space. ShiftMed has relationships with more than 700 enterprise partners already, including hospitals, skilled nursing facilities, home health and assisted living providers. Their end-to-end products for health care professionals are extremely compelling, and we are eager to help them with their geographic expansion,” said Paul Iaffaldano, General Partner at Panoramic Ventures.
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Also joining the round is Healthworx. “In our efforts to improve health equity, we recognize that ancillary services like caregiving play a vital role,” said Doba Parushev, Director of Venture Capital at Healthworx. “Our investment in ShiftMed expands our toolkit with in-home services, supporting our mission and continued ability to improve health outcomes.”
ShiftMed is the No. 1 ranked mobile app for professionals searching for flexible nursing jobs, addressing nursing shortages and enabling hospitals to reach their required staffing levels. ShiftMed’s technology onboards healthcare professionals through the credentialing process. In 2021, the company has already hired more than 10,000 nurses, which provided over 1 million hours of care, and received more than 100,000 app downloads. The company now services 56 markets across the United States.
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