According to IntelyCare, technology is an essential part of the solution to the complex workforce challenges facing the healthcare industry today. Now, the Quincy, Massachusetts-based, tech-enabled nurse staffing platform has $115 million in funding to expand into more markets and help more providers fill the workforce gap.
Smart Care declare its Series C financing Raised last week. The infusion of cash makes it a newly formed unicorn, boosting IntelyCare’s valuation to $1.1 billion, according to the company. Investment firm and asset manager Janus Henderson Investors led the round. Other investors include Longitude Capital, Leeds Illuminate, Endeavour Vision, Revelation Partners and Kaiser Permanente Ventures.
IntelyCare uses advanced data science to give nurses more control over their work schedules and helps healthcare organizations meet staffing needs by providing the flexibility workers need today, the company said. Addressing staffing shortages is a focus in healthcare to improve the quality of patient care and reduce healthcare worker burnout.
IntelyCare CEO and co-founder David Coppins said the company plans to continue its geographic expansion. The company currently Doing business in 28 states. By the end of this year, it will cover 36 states and basically the entire country next year, he said.
“In addition, we are using the funding to continue to expand our data science and behavioral science teams,” Coppins added. “These measures have proven to be the most effective in helping us achieve the highest fill rates in the industry and the greatest satisfaction for our nurses.”
AI is increasingly seen as a key component Addressing the healthcare staffing crisis, whether by automating tasks, providing decision support, or helping with staffing.other nursing facilities such as Cross Country Healthcareis also working on being part of the solution.
With many nurses and other healthcare workers leaving the profession, IntelyCare says it is doubling down on a nurse-centered approach. The company’s platform promises nurses work-life balance while providing stable W2 employment and benefits, including healthcare, retirement and education. With the Series C funding, IntelyCare will be able to provide additional employment and professional development opportunities, including continuing education, the company said.
IntelyCare raised $45 million in a Series B round in February 2020. Since then, its annual revenue has grown by more than 850%, according to the company. The company said the number of nursing professionals it works with more than doubled in 2021, and client demand for its nursing staff tripled from the previous year.
Coppins attributes some of IntelyCare’s success to the company’s focus on addressing concerns about working conditions — issues that have been ignored for far too long, he said.
“The nurse’s work model has been marginalized or not addressed in any serious way,” he said. “We can give nurses a way of working that works for them.”
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