Clipboard Health, an on-demand hiring platform for the healthcare industry, secured $30 million in a Series C round led by Sequoia Capital and $50 million in a Series B led by IVP, according to a press release Tuesday (April 19).
The post-money valuation of the firm is now $1.3 billion. Per the release, the company will use the infusion of fresh capital to double the size of its engineering team and hire people in sales and marketing. Over the past 18 months, Clipboard Health grew its gross revenue by 25x.
“The healthcare industry is suffering from intense labor shortages that ultimately impact patient care, and finding a solution now is critical,” Clipboard Health founding CEO Wei Deng said in the release. “Clipboard is offering a way forward by enabling facilities to fill shifts as needed and access a wider pool of talent, while empowering healthcare professionals to earn more and exercise greater control over their schedules. It’s win-win, and it’s the future of healthcare talent.”
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Headquartered in San Fransisco and launched in 2016 by Deng, Clipboard Health strives to connect healthcare professionals with open shifts at medical facilities. The startup has also been backed by Y Combinator, Caffeinated Capital, Initialized Capital, SciFi VC, DoorDash co-founder Tony Xu and Twitch CEO Emmett Shear.
The startup’s marketplace has filled staffing shortages at more than 1,000 facilities in over 30 U.S. cities, including Los Angeles, Philadelphia, Chicago and New York. Tens of thousands of healthcare professionals have used the service, according to the release.
The company has plans in the works to roll out to more locations before the end of 2022, enabling more healthcare facilities to post shifts. Medical professionals can book shifts and manage their own schedules on the Clipboard Health app.
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“U.S. healthcare isn’t scaling due to a shortage of providers and antiquated staffing practices,” said Bryan Schreier, partner at Sequoia Capital. “Clipboard Health’s software-powered marketplace represents the reinvention of healthcare services, beginning with nursing. Wei’s commitment to improving people’s quality of life is inspiring.”
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