Axle Health – a leading provider of scheduling and workforce management software in the home healthcare space – announced the closing of $4.2 million in seed funding, bringing the total raised to $4.4 million. The initial seed round was led by Pear VC, with an additional round of funding led by TRAC VC with participation from existing investors.
Axle’s software platform helps solve the staffing shortage that is being felt across the healthcare space by dramatically improving the utilization of home-based clinical staff. Axle’s proprietary logistics engine reduces the time clinicians spend driving between patients’ homes, which allows them to spend more time caring for patients.
The company launched a new software platform for existing home health care providers after spending several years building out a vertically integrated care delivery platform and immediately saw a strong response from the market, with revenue surpassing $1 million ARR in the first 12 months after launch. And the company was founded in 2020, and participated in the Y Combinator accelerator in 2021.
The new funding round will be used to hire additional software and machine learning engineers to continue building out the software platform.
KEY QUOTES:
“Pear has a long history of identifying exceptional teams delivering on a clear market need. Axle’s been able to show significant value created for its customers, and the team has done a phenomenal job executing on their vision. They’re exactly the kind of company Pear is excited to work with.”
- Pear VC partner Vivien Ho
“With clinician burnout skyrocketing, the only way to solve the national staffing shortage is by getting best-in-class technology into the hands of every provider in the country. If we can scale and deploy our product faster, then that means more patients will be able to get the care they need.”
“We’re thrilled to bring TRAC on board. We weren’t planning on raising additional capital once we got profitable last year, but we’re excited to add a valuable new perspective to the team, while also enabling us to lean aggressively into our new product offering.”
- Axle CEO Adam Stansell
