Nurse staffing startup IntelyCare scores $115M Series C

Nurse staffing platform IntelyCare scooped up $115 million in Series C funding, bumping the company’s valuation to $1.1 billion.

The round was led by Janus Henderson Investors, with participation from Longitude Capital, Leeds Illuminate, Endeavour Vision, Revelation Partners and Kaiser Permanente Ventures. The latest raise comes about two years after its $45 million Series B. 

WHAT IT DOES

IntelyCare’s offering matches nurses and nursing assistants with open shifts at healthcare organizations, including post-acute skilled nursing facilities, nursing homes, rehabilitation facilities and senior living centers.

Nurses can choose individual shifts or pick a block of times or facilities they prefer. As employees, nurses can access medical and retirement benefits from the company, and IntelyCare will pay its portion of payroll taxes.

The startup said it will use the Series C investment to offer more employment and professional development opportunities for its nurses, including continuing education. 

“In 2016 we began working on a platform to disrupt an industry that was slow to innovate. We knew that a technology solution could change lives for both sides of the market and we’re seeing that vision come to fruition as we now have over 30,000 nursing professionals working with IntelyCare at over 1,600 facilities across the country,” IntelyCare CEO and cofounder David Coppins said in a statement.

“We’ll use this investment to continue redefining the future of work for our nation’s nurses.”

MARKET SNAPSHOT

The COVID-19 pandemic had a major impact on frontline providers’ mental health, worsening burnout and staffing shortages. A 2021 survey by the American Association of Critical-Care Nurses found 66% of respondents felt their experiences during the pandemic caused them to consider leaving the field.

Several tech-enabled healthcare staffing startups have been scooping up funding over the past year. Another nurse staffing company, connectRN, raised $76 million in a funding round late last year. Also in December, healthcare-jobs marketplace and recruiting-services startup Prolucent Health brought in $11.5 million in Series A funding. 

In November, nurse staffing startup Trusted Health revealed it had raised a $94 million Series C plus a previously unannounced $55 million Series B. 

Nomad Health, which offers a job portal for temporary healthcare workers, scooped up $63 million in equity and debt financing in September.

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