ShiftMed Raises $200M in Funding

ShiftMed, a McLean, VA-based W-2 healthcare workforce management marketplace, raised $200m in funding.

The round was led by Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital.

The company intends to use the funds to to expand national footprint across all segments of the healthcare market.

Led by Todd Walrath, CEO, ShiftMed is a next-generation workforce management platform that connects hospitals, assisted living providers and skilled nursing facilities to the highest quantity and quality of licensed nurses (CNAs, LPNs and RNs). It provides access to a local marketplace with more than 350,000 credentialed W-2 healthcare workers and an automated workforce management platform that enables acute, post-acute, and in-home providers to manage their resources dynamically. By using mobile and cloud-based software that provide workforce optimization, health systems are able to offer the modern, unified solution to their workforce that increases retention, creates part-time work opportunities, and decreases reliance on travel agencies. ShiftMed also provides access to additional local staff.

The company serves more than 1500 enterprise healthcare partners across the country.