New York-based startup Nomad Health, maker of an online healthcare job marketplace, announced Thursday that it raked in $34 million through a combination of new equity and debt financing. The round was led by Icon Ventures with participation from Polaris Partners, RRE Ventures, .406 Ventures and Silicon Valley Bank.
As part of this news Tom Mawhinney, a general partner at Icon Ventures took a seat on Nomad’s board of directors.
This funding comes about a year and a half after the startup announced a $12 million fund raise.
WHAT THEY DO
Launched in 2016, the company’s platform aims to connected qualified doctors and nurses to provider organizations looking for new staff. The company pitches itself as a way to eliminate the middle man of staffing organizations. The site lets provider organizations post locum tenens, permanent, telehealth and traveling nurse positions.
Clinicians can use a common application to apply for as many jobs as they would like. Hiring organizations are sent the top matches and are able to communicate with potential leads directly through a chat function.
The platform is free to clinicians searching for jobs. Nomad lets provider organizations post jobs for free and then pay when they hire a new staff member.
WHAT IT’S FOR
The startup has pledged to use the new funds to double its staff and build out its technology. It also plans on opening up a new office in Charlotte, North Carolina, according to a statement.
It’s no secret that the healthcare industry is constantly facing staffing shortages. The Association of American Medical Colleges published data predicts a shortage of 122,000 physicians by 2032. The nursing profession is also facing shortages as the population in the US continues to age.
Now technology companies are looking for ways to fill the gap and support providers to recruit new staff. Other players in the field include Enzyme Health, which is focused on staffing telehealth positions through a “gig economy” model and NextStep, which is focused on training nonhealthcare professionals to work as nursing aids and home healthcare professionals.
ON THE RECORD
“Nomad Health is the modern-day leader in the healthcare staffing space,” Mawhinney said in a statement. “We are enthusiastic about Nomad’s smart business plan, and we support the company’s focus on addressing two critical issues our country faces in healthcare – provider burnout and staffing shortages. The success of Nomad has far reaching implications for patients and providers, and I am excited to work alongside the company as it continues to revolutionize the healthcare workforce and move closer to its vision of becoming the go-to human resources platform for healthcare professionals and health systems.”