Incredible Health, the US-based nurse-first job matching platform, has closed an $80M Series B funding round and hit a $1.65BN unicorn valuation, billing itself as a “tech-enabled” high-value job marketplace. The healthcare sector – just a few years after closing a $15M Series A (struck by the pandemic).
The latest addition was led by Base10 Partners, while existing investors Andreessen Horowitz and Open Ventures back the startup. Other investors in the Series B include Trusted Health client, Kaiser Permanente; A list of angels and funds including Workday CEO Chano Fernando; NBA Champion Andre Iguodala; Rethink Impact; Stardust Equivalence; and the D’Amelio family, including TikTok personalities Charlie and Dixie D’Amelio, who joined the round through 444 Capital Fund.
Incredible Health says the new funding will continue initiatives to help health systems and their staff manage the high demand for patient care – via oWorkflow optimization using machine learning technology (including “filtering and matching”) to increase process automation and personalization Both health care workers and employers; Career support for nurses and healthcare workers, including skills development, education, mobility and relocation; and new features for the Nurses Community Center, such as personalized advice and content ranking.
The startup is aiming to expand and grow its platform to 90% of the U.S. nurse workforce, and is also looking to move beyond critical shortage nurses into healthcare worker roles. (For nurses, the critical shortage means the U.S. is on track to be short 1 million nurses by the end of 2023.)
“Nurses are the backbone of the US health care system and they deserve well-staffed teams and equipment not only to be successful, but also to feel fulfilled in their careers,” he said. Iman Abuzeid MD., CEO and co-founder, in the statement. “Our model is timely and transformative for both nurses and health care providers during a very challenging time in US health care. We are excited to accelerate our growth to affect even more change.”
Incredible Health is calling 2021 a “momentary” year for performance, with the startup seeing a more than 500% increase in revenue. He said that more than 10,000 nurses join the marketplace every week, and that he has been able to reduce the industry average of 82 days to 14 days. On the employer side, ot claims to have signed up with more than 60% of the “top tier” hospitals in the US – nearly 600 hospitals using the platform for permanent staffing.
Commenting on Series B of the statement, Jameson HillA partner at Base10 Partners, he added, “Incredible Health is an exciting addition to the Priority initiative portfolio. The company’s mission and support for nurses align closely with our values, but what makes Incredible Health unique is how the company has changed the way health systems find talent and hire nurses. The company is addressing a pressing need in healthcare and we are excited to be a part of its next phase of growth.
Check out a recent podcast interview with Abuzid about his incredible health breakthrough: