This morning workforce management system IntelyCare raked in $45 million in its Series B funding round. The total funding number was made up of equity and debt financing. Endeavour Vision led the round with participation from Kaiser Permanente Ventures and Generator Ventures.
WHAT THEY DO
The company focuses on matching nurses and certified nursing assistants with acute healthcare facilities for certain shifts.
Nurses and CNAs can use the company’s app to look through available shifts in their geographical area. The service will ask the clinicians about their preferences, needs and abilities in order to display the most relevant opportunities.
IntelyCare then uses artificial intelligence to look at the clinician’s preferences and the healthcare system’s needs in order to put the best potential matches together. The company uses predictive analytics to help figure out a match.
The app also includes interactive training activities for clinicians, including videos and quizzes.
WHAT IT’S FOR
The company said it plans to use the new money to continue to build its gig economy platform and data science tech.
“With rising rates of chronic conditions and an aging population, there is a critical need for new technologies to support the post-acute care workforce,” Sam Brasch, senior managing director and vice president, Kaiser Permanente Ventures, said in a statement. “IntelyCare’s approach augments available nurses to help overcome these complex challenges, reduce burnout and attrition, and drive greater patient care.”
Staffing has been a pain point for hospital organization for quite some time. However, there are numerous startup looking to tackle this issue. In 2017 freelance clinical work platform Nomad expanded the service to nurses, in addition to doctors.
Another in the space is Bay Area startup Trusted Health whose platform helps nurses find jobs and negotiate pay, as well as manage credentialing and paperwork and nurse.
ON THE RECORD
“As an investor in innovative medical and digital health technologies, we look for companies with disruptive solutions to the challenges facing today’s healthcare system,” Rob Barmann, senior investment director, Endeavour Vision. “IntelyCare’s rapid and significant growth demonstrates the value it is bringing to the nursing sector. With a unique technology and an experienced team, the company is well-positioned to develop further, and we are proud to support it in its next phase of growth.”