– Incredible Health raises $15M in Series A funding led by Andreessen Horowitz to solve America’s looming health care labor crisis.
– Founded in 2017 by a former physician and an MIT alum from a family of nurses, the company has pioneered a new custom matching algorithm that personalizes a hospital’s hiring experience.
– The platform empowers hospitals to apply to nurses seeking permanent positions, matching their needs to skilled professionals who fit the bill.
Incredible Health, a San Francisco, CA-based career marketplace connecting nurses to permanent, well-paid hospital jobs, today announced it has raised $15 million in Series A funding. The funding was led by Andreessen Horowitz with participation from NFX, Obvious Ventures, Precursor Ventures, and others.
Incredible Health is on a mission to help healthcare professionals find and do their best work. This capital raise will accelerate the national expansion of their career marketplace connecting nurses to permanent, well-paid hospital jobs. The $15 million round brings Incredible Health’s total funding to $17 million.
1 Million Nurse Shortage by 2024
By 2024, the United States is poised to experience its biggest employment crisis to date — a shortage of one million nurses. This shortage puts hospitals at risk of financial loss: travel nurse contractors and overtime cost hospitals 1.5-2x more than permanent workers. Most importantly, it impacts the quality of care and threatens patient safety. Now, a startup is tackling this problem and has raised a new round led by Andreessen Horowitz.
Matching Algorithm to Hire in Under 30 Days, At Scale
Founded in 2017 by a former physician Iman Abuzeid, M.D. and Rome Portlock, an MIT alum from a family of nurses, the Incredible Health has pioneered a new custom matching algorithm that personalizes a hospital’s hiring experience. The platform empowers hospitals to apply to nurses seeking permanent positions, matching their needs to skilled professionals who fit the bill. This unique approach helps nurses find great permanent careers in hire 3X faster than the national average – in 30 days or less instead of 90 days. The result? Increasing hiring efficiency 25X sourcing qualified nurses to fill the gaps, and more time spent delivering quality care to those in need.
This unique approach helps nurses find great permanent careers in hire 3X faster than the national average – in 30 days or less instead of 90 days. The result? Increasing hiring efficiency 25X sourcing qualified nurses to fill the gaps, and more time spent delivering quality care to those in need.
This unique approach helps nurses find great permanent careers in hire 3X faster than the national average – in 30 days or less instead of 90 days. The result? Increasing hiring efficiency 25X sourcing qualified nurses to fill the gaps, and more time spent delivering quality care to those in need.
Already Profitable in California; Expanding Community Nationwide
The company plans to use the latest round of funding to expand its digital career marketplace nationwide. The platform is already used by 150 major hospitals throughout California including Adventist Health, Cedars-Sinai Medical Center, Dignity Health / CommonSpirit Health, Hospital Corporation of America, John Muir Health, Lucile Packard Children’s Hospital Stanford, MemorialCare Health System, Providence Saint Joseph Health. Stanford Health Care, Tenet Healthcare, UC Davis Medical Center, UCSF Medical Center, and others.
The raise also enables the company to develop a suite of free tools members can use to effectively manage their careers in ways not offered by traditional job sites. Like Airbnb and Poshmark, site membership offers more than income, it provides meaningful support.
Outcomes/Results
“To do our best work, we need to have the talent to deliver quality care to those in need,” explained Stanford Health Care’s Chief Human Resources Officer David Jones. “With the ongoing shortage, it’s taking our team longer than we’d like to find the ideal specialized experienced candidates for hard-to-fill positions. With Incredible Health, we consistently hire in permanent roles in under three weeks.”
Thanks to the platform’s unique custom matching algorithms, talent and employers enjoy more personalized, well-suited matches. As a result, nurses who find employment through Incredible Health score an average 17% salary increase and a 15% reduction in commute time.
“Incredible Health’s platform led to hospitals applying to me, and I received three interviews within a week,” recalled nurse Althea Tim-Fyffe RN. “All three hospitals made great offers, but I could only accept one. I now have a permanent position that is paying more than a good travel contract.”
Why It Matters
“As a trained physician with many friends and family in the medical field, I know first-hand the inefficiencies of traditional hospital hiring practices,” explained Dr. Iman Abuzeid, CEO of Incredible Health. “By automating the screening and custom matching process, we’re simplifying and dramatically shortening the time it takes hospitals to source and hire the talent they need for permanent roles.”
