Funding to fuel national expansion and continued innovation in hiring nurses amid widespread industry shortages and upheaval
SAN FRANCISCO, August 17, 2022 /PRNewswire/ — Incredible healththe fastest growing career market for permanent healthcare workers, today announced that it has secured $80 million in a Series B financing, bringing the company’s valuation to $1.65 billion. Now the most popular tech career marketplace in healthcare, Incredible Health has dramatically transformed not only how nurses are hired, but the nursing experience itself. This new funding will support the company’s initiatives to help healthcare systems and their employees manage the growing demand for patient care. The funding supports Incredible Health’s vision to help healthcare workers live better lives and its mission to help healthcare workers find and do their best work.
“Nurses are the backbone of America’s healthcare system, and they deserve well-resourced teams and tools to not only succeed, but to feel fulfilled in their careers,” said Iman Abuzeid MD., CEO and co-founder of Incredible Health. “Our model has met the moment and changed the paradigm for nurses and health care providers in the most difficult time in health care in the United States. We are excited to accelerate our growth to bring even more changes.”
Base10 partners led the round as part of their Advancement initiative, a fund designed to align the success of technology companies with the creation of wealth for underrepresented minorities. The advancement initiative invests in leading pre-IPO companies, including Devoted Health, Notion, Figma and Plaid, and donates 50% of the fund’s stake to historically black colleges and universities (HBCUs) to create scholarships and supporting university endowments. Incredible Health and Base10 Partners intend to create a scholarship initiative for nurses.
“Incredible Health is an exciting addition to the Advancement Initiative portfolio,” said Jamison Hill, partner at Base10 Partners. “The company’s mission and support for nurses aligns closely with our values, but what makes Incredible Health truly special is how the company has transformed the way healthcare systems recruit talent and nurses find work. The company is addressing an urgent healthcare need and we’re excited to be part of its next stage of growth.”
Existing investors Andreessen Horowitz and Obvious Ventures have also returned to invest. Kaiser Permanente, a customer of Incredible Health – one of the nation’s largest healthcare systems – participated, further cementing Incredible Health’s market leadership among the nation’s top hospitals and healthcare systems. New investors include Workday CEO Chano FernandezNBA Champion Andre Iguodala, Rethinking Impact and Stardust Equity. The D’Amelio family, including leading TikTok personalities Charli and Dixie D’Amelio who have over 150 million TikTok followers, also joined the round through their 444 Capital Fund. This comes as Incredible Health continues to invest in growing its social media presence among healthcare workers.
Incredible Health hit a pivotal year for performance, seeing a more than 500% increase in revenue in 2021. More than 10,000 nurses are joining the market every week and the company has reduced the average time to hire to 14 days compared to the industry standard of 82 days. Sixty percent of top-ranked hospitals in the United States, including Stanford Health Care, Cedars-Sinai Medical Center, NYU Langone Health, Northwestern Medicine and 600 other hospitals use Incredible Health for their permanent staffing needs. His deals are more urgent than ever: The United States is on track to run out of one million nurses by the end of 2023, and 75% of graduate nursing students cite staffing shortages as their main concern to enter the field.
Incredible Health will deploy its capital directly into rebuilding the shrinking nursing workforce. With the goal of continuing to expand Incredible Health into new markets for healthcare systems and nursing talent, the company will use this funding to:
- Optimize every aspect of the hiring workflow with machine learning technology, including screening and matching, for an increasingly personalized and automated experience for healthcare workers and employers
- Supporting nurses and other healthcare workers throughout their careers beyond finding permanent jobs, including skills development, planning services, mobility and relocation assistance, cross-training and scholarships
- Enhance the Incredible Health nursing community through technology with personalized advice and content ranking, ensuring Incredible Health continues to be the largest online community of nurses and other healthcare workers.
- Expand and expand the nursing workforce in the United States to 90%, and support the roles of healthcare workers beyond nursing who are experiencing critical shortages
“The past few years have brought many lessons, but one of the most important is the importance of really listen to our nurses, and right now nurses need more nurses,” the CEO said. David Lubarsky MD. from UC Davis Health. “We are pleased to have streamlined our internal hiring operations to go beyond conventional time – with Incredible Health stepping in to do the heavy lifting. The company truly understands what our workforce needs and provides the technology and support appropriate to carry out their mission.”
Incredible Health has 180 remote employees in 35 states and continues to hire at a rapid pace. To join the growing Incredible Health team, visit the careers page here.
About Incredible Health
As a career marketplace for permanent healthcare workers, Incredible Health puts nurses in the driving seat. Hospitals go directly to nurses rather than the other way around. The first and only platform to focus on permanent employees rather than contractors, Incredible Health is already used by more than 600 major hospitals nationwide. Incredible Health’s proprietary algorithm-based technology meets the needs of hospitals with the right nurses. Co-founded by MD and Wharton alum Iman Abuzeid and MIT a former student of a family of nurses, Rome Portlock, Incredible Health is headquartered in San Francisco, Californiaand operates nationwide.
Inkwell for Incredible Health
SOURCE Incredible Health