Health

Nomad Health temporary staffing market grows $105 million



Nomadic healthAn online job portal for temporary medical workers, has raised $105 million in funding, led by Adams Street Partners and Icon Ventures.

Other participants in the round include HealthQuest Capital, Polaris Partners, .406 Ventures, AlleyCorp and RRE Ventures as well as new debt providers JP Morgan and Trinity Capital.

The HR startup said the new capital brings its total raised to more than $200 million. The funding came less than a year after Nomad announced they had brought in 63 million dollars in new equity and debt financing.

WHAT IT DOES

Nomad provides a human resources marketplace for temporary workers, allowing users to search for open jobs across the country, apply for positions, manage resumes online, and filter opportunities by level. salary and expertise.

The company plans to use the capital to expand beyond traveling nurses to include professionals such as lab technicians, physiotherapists and ultrasound technicians. It also announced the hiring of Maquel Shaw as chief marketing officer, who joins the startup from trading firm Overstock.com.

“The COVID-19 pandemic has exposed and hastened a healthcare workforce crisis that has been so powerful in the healthcare sector for decades. This 21st-century scale issue is really real. needed a 21st century solution. We have been working hard to think differently and apply technology, complex data science, and business best practices from across industries so that Nomad can can serve more efficiently, more efficiently, and at scale for physicians of all types across health systems across the country,” said CEO and co-founder, Dr. Alexi Gharib Nazem. know in a statement.

SNAPSHOT . MARKET

Healthcare worker shortages have become a major concern for service providers, especially amid the ongoing COVID-19 pandemic. A recent report from American Hospital Association Labor accounts for more than half of the hospital’s total costs. Meanwhile, the report noted a 120% increase in employment for contract or travel nurses from January 2019 to January 2022.

There are a number of startups touting in tech-enabled healthcare job markets right now. In April, Clipboard Health announced that it has raised 80 million dollars over two rounds of funding, a $30 million Series C that ended in February and a $50 million Series B from last year.

IntelyCare, focused on nurses and nursing assistants, recently made $115 million in Series C funding, raising the company’s valuation to $1.1 billion. Meanwhile, connectRN has announced a Raise $76 million in December, while Prolucent Health raised $11.5 million in Series A funding.



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