What You Should Know:
– NPHub, the pioneering digital platform connecting nurse practitioner students with essential clinical rotations announced a $20M growth equity investment from leading growth equity firm, Edison Partners.
– The first round of institutional capital will fuel the company’s mission to streamline the cumbersome process of clinical and career placement for the nation’s rapidly growing population of nurse practitioners.
Addressing a Critical Healthcare Need
The U.S. healthcare system is at a critical juncture. Faced with an aging population and escalating healthcare demands, the American Association of Medical Colleges forecasts a staggering shortage of up to 180,000 physicians in the coming decade. To bridge this gap, the role of nurse practitioners (NPs) has become more vital than ever, with their numbers projected to surge by 45% between 2021 and 2032.
However, the path for these crucial professionals is fraught with challenges. NP students have historically relied on inefficient and manual methods, such as cold calling and mass emailing, to secure the mandatory clinical training rotations required for graduation. This antiquated process often leads to delays, frustration, and uncertainty.
“There’s such a huge need for nurse practitioners and, until now, they’ve had to cold call and email, searching for months for training opportunities and later for jobs. These professionals, their educators and employers deserve better,” said Krish Chopra, co-founder and CEO of NPHub. “We saw a complex problem, built a technology platform to solve it at scale, and with Edison’s capital, industry experience and operating expertise, we have the ideal partner to help us accelerate our growth.”
Since its inception in 2017, NPHub has demonstrated profitable and capital-efficient growth by creating a robust marketplace. The platform effectively matches NP students with preceptors (in-clinic mentors), simplifying the search for necessary clinical rotations. The success of this model is evident in the company’s recent performance, with nursing student growth on the platform increasing by over 100% in the last year alone and more than 10,000 clinical rotation placements facilitated to date.
Expanding Services for the Entire Career Lifecycle
A key component of NPHub’s expansion is the upcoming launch of NPHire, a new service dedicated to connecting NP graduates with full-time employment opportunities. Currently in a successful pilot phase, NPHire has already attracted over 7,000 candidates and 60 employers, demonstrating a clear demand for a more efficient job matching solution in the field. This addition will position NPHub as a comprehensive career resource for nurse practitioners, supporting them from their educational journey through to their professional careers.
