Trusted Health Secures $20 Million in Series A Funding to Reinvent Employment Marketplace for Nursing Professionals
Trusted Health, the career platform for modern nurses to work, connect and grow, today announced that it has closed $20 million in Series A funding, led by Craft Ventures and joined by previous investors Felicis Ventures and Founder Collective. The company also has officially launched support for flexible nursing opportunities nationwide and added permanent staff openings for nurses seeking more traditional employment. Nurses can receive support from Trusted Health's nurse advocates during their employment journey and take advantage of full W2 benefits.
"With more than half of hospitals reporting staffing shortages now and 1 million vacancies for registered nurses projected by 2024, nurses continue to be in high demand. However, because they have had to rely on antiquated and inefficient recruiting processes, nurses often miss ideal opportunities that fill quickly," said Sarah Gray, R.N., Trusted Health's founding clinician. "Trusted Health is empowering nurses with more control over the trajectory of their careers and greater flexibility in their lives. We have created a community for a modern healthcare workforce, providing a platform that gives today's nurses a quick and easy way to find rewarding work, connect with other professionals and access the modern benefits and features they want, along with the security of W2 employment."
Reinventing the Way Modern Nurses Work
Trusted Health combines a state-of-the-art digital employment platform, personalized support and a unique hiring structure that eliminates the hassles and controversy of 1099 contracting, by offering W2 employment, as well as perks similar to those available in the high-tech industry. With Trusted Health, nurses now have a single, go-to resource where they can grow professionally, explore new opportunities and find answers to their questions.
Through its marketplace, Trusted Health operates as a fully automated online employment agency, simplifying job searches by providing candidates visibility into the latest openings. The platform also streamlines the application process by digitizing, saving and managing resumes, credentials, certifications and other key employee information. An advanced, automated matching system alerts nurses in real-time of new opportunities that correspond with their credentials, experience and preferences, and provides all job and compensation details upfront so candidates can make informed decisions.
Once a job is accepted, Trusted Health becomes the nurse's employer, integrating everything from signing their contract and enrolling in benefits to timekeeping in the platform and app. Trusted Health provides nurses W2 employment, including overtime, paid sick leave, insurance and other protections not available to 1099 contractors.
Trusted Health adds a personal touch to its technology, with on-staff nurse advocates who answer questions, facilitate the application and onboarding process, and provide clinical, professional and personal support every step of the way.
Extending Reach Nationwide
Trusted Health will use its Series A funding to enhance the tools and resources used by nurses, increase the types and quantities of opportunities available, and support expansion of its employment operations into all 50 states and the District of Columbia.
Starting with initial operations in California last year, the company employed nurses in 20 states nationwide at the end of the first quarter 2019. More than 1,000 new nurses join Trusted Health's platform each week to explore job opportunities. During the first quarter of 2019 alone, jobs available on the platform exceeded $60 million and there were more than 246,000 personalized matches viewed by users.
"We were intrigued by Trusted Health's strong growth figures, which underscore that today's nurses want a reliable and easy-to-use employment solution," said Jeff Fluhr, general partner at Craft Ventures and co-founder of StubHub, who will also be joining the board. "Trusted Health has maintained capital efficiency, while demonstrating strong early momentum and consistent growth. At a time when there aren't enough nurses to fill critical jobs, the Trusted Health team has built a successful technology-based platform that appeals to modern nurses, and ultimately helps hospitals deliver on their goal of improving patient care. With an experienced leadership team that understands both the employment and healthcare industries, we believe Trusted Health will fundamentally change the way the next generation of nurses approaches career development."
The Trusted Health founding team leverages a combination of healthcare, technology and employment marketplace experience from companies like Hired, Google Hire, LinkedIn, Entelo, Job Score and leading health institutions, such as University of California, San Francisco Medical Center, Penn Medicine and Texas Children's Hospital.
"Faced with increasing demand from patients and staffing challenges, there is no question the healthcare industry is at a critical juncture. Now is the right time for a platform like Trusted Health's," Fluhr added. "We look forward to helping Trusted Health become the dominant player in the healthcare employment landscape."
About Trusted Health
Trusted Health is reinventing the employment landscape for healthcare professionals with a digital employment platform built by nurses for nurses. Combining personal touch with modern technology, Trusted Health is building the future of work in healthcare by enabling nurses to seamlessly manage their careers. The platform simplifies how they create resumes, manage credentials, and understand and apply for opportunities in real-time. Trusted Health's nurse advocates – all former bedside nurses – provide one-on-one support and coaching through the entire Trusted Health experience. For nurses interested in flexible jobs, Trusted Health serves as their W2 employer, providing an unrivaled end-to-end experience – from onboarding and credentialing to payroll and 24/7 support. Investors include Craft Ventures, Felicis Ventures and Founder Collective, as well as healthcare innovators like Texas Medical Center and Healthbox. The San Francisco-based company, operated by Trusted Inc., was founded in 2017 by a team of nurses, labor marketplace experts and technology innovators who previously worked at Hired, Entelo, Google Hire, Job Score, LinkedIn and top health systems. Trusted Health supports flexible and permanent hiring in all 50 states and Washington, D.C. For more information, visit www.trustedhealth.com or follow on Twitter and Instagram @trustedhealth.