connectRN raises $76M for healthcare worker staffing, networking

Tech-enabled nurse and aide staffing firm connectRN has raised $76 million in a financing spherical led by Suvretta Capital Administration and Avidity Companions.

Different traders taking part on this spherical embody HBM Healthcare Investments, Infinitum Asset Administration, Adage Capital Administration, Cormorant Asset Administration and Park West Asset Administration.

Residence care supplier Amedisys additionally invested and can deploy the platform for its clinicians. connectRN stated the funding brings its whole increase to greater than $100 million. 

WHAT IT DOES

The corporate affords a platform the place nurses and aides can discover and apply for shifts and different work alternatives, and might community with different clinicians. 

“The enterprise is poised to ship 240% natural income development year-over-year in 2021 confirming our speculation that nurses and aides usually are not solely in demand however are searching for a greater path for his or her careers. Our skill to ship the proper alternatives, on their phrases, in a supportive and nurturing atmosphere is what we consider to be the way forward for healthcare,” CEO Ted Jeanloz stated in a press release.

“This financing will speed up our fast development in new and present markets and supplies the sources to comprehend our imaginative and prescient of changing into the premier vacation spot for nurses and aides to achieve profession alternatives and the group assist they deserve.”

MARKET SNAPSHOT

Clinician staffing and burnout is a critical concern in healthcare, because the COVID-19 pandemic put important pressure on the frontline workforce. An April survey from the Kaiser Family Foundation and The Washington Post discovered 62% of healthcare employees stated that fear or stress from the pandemic had a detrimental impression on their psychological well being. 

COVID-19 additionally added to concerns about staffing shortages, a long-term drawback for the trade. 

Different corporations that goal to supply tech options to healthcare staffing embody Nomad Well being, which raised $63 million in equity and debt financing in September; Trusted Well being, which recently announced $149 million in funding; and Healing, which modified its identify from THMED when it was acquired by Doximity last year.

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