– IntelyCare, a leading intelligent workforce management solution for post-acute facilities raises $45M in new equity and debt financing to solve nationwide nurse shortage.
– With this funding, the company will continue its viral expansion into new markets in dire need of better ways to pair facilities with open shifts and nurses looking for work.
IntelyCare, a leading intelligent workforce management solution for post-acute facilities, today announced it has completed the largest venture round in the nursing technology space, raising $45M in new equity and debt financing to solve the nationwide workforce shortage. The Series B round was led by new investor Endeavour Vision and includes Kaiser Permanente Ventures and Generator Ventures.
Intelligent Nurse Staffing Platform
Founded in 2014, IntelyCare is the intelligent workforce management solution for post-acute healthcare facilities. The intelligent platform and mobile app that empowers nurses with access to flexible, on-demand opportunities and intelligently matches them to open shifts that facilities need filled—reducing burnout and turnover. The intelligent matching and pricing engine provides a seamless solution to staffing challenges with minimal manual involvement. Shifts can be filled in as little as 12 hours in advance, and predictive analytics help forecast potential openings weeks in advance, making it easier to immediately fill shifts once they’re officially posted.
The solution is powered by advanced machine learning algorithms that optimize matching and pricing, creating shifts before facilities know their own need and resulting in the highest shift-fill rate in the industry. It also employs the principles of gig economics to add more than 20 percent capacity to the available workforce. This virtual workforce expansion lowers costs to facilities by reducing turnover and compliance penalties, and ensures facilities have the support needed to care for the patient population.
This latest round speaks to IntelyCare’s market leadership and exceptional success, doubling its revenue over the past two years and doubling its client footprint in the past year. With this funding, the company will continue its viral expansion into new markets in dire need of better ways to pair facilities with open shifts and nurses looking for work.
“Due to high patient-to-nurse ratios and frequent mandatory overtime, nurses experience greater burnout and dissatisfaction while patients have an increased risk of re-hospitalization and higher mortality risk,” said Chris Caulfield RN, NP-C, Co-Founder and Chief Nursing Officer, IntelyCare. “Out of all healthcare settings, post-acute care facilities experience these situations the most frequently and have the highest rates of nurse burnout, which is why we decided to develop our technology specifically for this care setting.”