ShiftMed, a mobile app that connects healthcare workers and providers, has raised $45 million, the company announced Wednesday.
ShiftMed contracts with healthcare providers to link them with workers on demand, including home-based care workers, via their mobile app.
The platform’s business has skyrocketed this year; the company began the year servicing just 10 U.S. markets and now operates in 56 markets.
In 15 months, the company reported 400% growth.
"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, in a statement. "We are excited to accelerate our mission of building a global community of engaged health care professionals."
Nursing shortages, while common before COVID-19, have become nearly ubiquitous in the wake of the pandemic. Provider burnout, among other factors, has led many nurses to leave their jobs, forcing hospitals to increasingly rely on contract workers.
But hiring or onboarding nurses remotely without the infrastructure to support it can be difficult. In an April survey conducted by Avant Healthcare Professionals, hospital executives reported high nursing vacancies and detailed the many difficulties in filling the open spots, with some even noting that they were forced to hire nurses with less clinical experience.
ShiftMed attempts to address many of those issues, allowing providers to specify what type of healthcare worker they need and credentials the worker should have. The healthcare worker can include their terms in the app, too, like pay and scheduling.
With 60,000 healthcare workers, ShiftMed has partnered with over 700 organizations, including hospitals, nursing facilities, home health and assisted living providers, the company said.
In the third quarter of this year, ShiftMed’s healthcare workers cared for more than 200,000 patients.
The funding round was led by Panoramic Ventures and HealthWorx, the innovation and investment arm of CareFirst Holdings.
The new funds will go towards expanding the company’s footprint and building its product offerings.
“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, of ShiftMed.