- Incredible Health, a company that is powering one of the country’s fastest-growing health care hiring platforms announced it raised $15 million in Series A
Incredible Health — a company that is powering one of the country’s fastest-growing health care hiring platforms — announced that it has raised $15 million in Series A funding led by Andreessen Horowitz with participation from NFX, Obvious Ventures, Precursor Ventures, and others.
And Incredible Health is on a mission to help health care professionals find and do their best work. This capital is going to accelerate the national expansion of their career marketplace connecting nurses to permanent and well-paid hospital jobs.
The US is poised to experience its biggest employment crisis to date by 2024, which is a shortage of one million nurses. This shortage puts hospitals at risk of financial loss as travel nurse contractors and overtime cost hospitals 1.5-2x more than permanent workers. And more importantly, it impacts the quality of care and threatens patient safety.
“As a trained physician with many friends and family in the medical field, I know first-hand the inefficiencies of traditional hospital hiring practices,” said Dr. Iman Abuzeid, the CEO of Incredible Health. “By automating the screening and custom matching process, we’re simplifying and dramatically shortening the time it takes hospitals to source and hire the talent they need for permanent roles.”
Abuzeid is an MD and Wharton alumni and CTO Rome Portlock is an MIT alum from a family of nurses.
Incredible Health is trusted by more than 150 hospitals throughout California including Stanford Health Care, Cedars-Sinai Medical Center, and CommonSpirit Health — which is the company’s first-of-its-kind career marketplace which uses proprietary algorithm-based tech to match the needs of hospitals with the right nurses for permanent jobs.
In order to accomplish this, Incredible Health puts nurses in control. And it is the first-and-only marketplace to focus solely on permanent employees (not travel nurses) hospitals apply to nurse talent instead of waiting for talent to apply to them.
And this approach accelerates time to hire 3 times faster than the national average (in 30 days or less instead of 90 days). Plus it increases hospitals’ hiring efficiency 25X and helps nurses find great permanent careers in under a month.
“To do our best work, we need to have the talent to deliver quality care to those in need,” explained Stanford Health Care’s Chief Human Resources Officer David Jones. “With the ongoing shortage, it’s taking our team longer than we’d like to find the ideal specialized experienced candidates for hard-to-fill positions. With Incredible Health, we consistently hire in permanent roles in under three weeks.”
Incredible’s unique custom matching algorithms provides talent and employers with more personalized and well-suited matches. And as a result, nurses who find employment through Incredible Health see an average 17% salary increase and a 15% reduction in commute time.
“Incredible Health’s platform led to hospitals applying to me, and I received three interviews within a week,” noted nurse Althea Tim-Fyffe RN. “All three hospitals made great offers, but I could only accept one. I now have a permanent position that is paying more than a good travel contract.”
This $15 million round brings Incredible Health’s total funding to $17 million. And it was led by Andreessen Horowitz and another investor was the a16z Cultural Leadership Fund.
“Incredible Health has built a reliable two-sided marketplace to connect high-value health care workers with high-quality, permanent jobs,” explained Andreessen Horowitz General Partner Jeff Jordan. “This comes at a critical time for the health care system as the shortage of nurses in the U.S. is more acute than even the shortage of engineers. The founding team’s personal commitment to improving health care is clear, and I’m confident their direct relationships with hospitals and nurses will lead to longer-lasting placements and more evenly distributed staffing nationwide.”
Along with scaling operations nationwide, Incredible Health will be using the funding to expand from hiring platform to the community for health care professionals as they advance their careers.
“Iman and team are on a mission to improve the lives of millions of nurses,” noted Obvious Ventures’ co-founder James Joaquin. “Expanding our hiring marketplace into a delightful community for health care professionals is a natural next step towards fulfilling that mission.”
NFX, Obvious Ventures, Precursor Ventures, and Gingerbread Capital also participated in the round, doubling down on their seed investments. Some of the other leaders in the hiring space that also invested include Hired founder Matt Mickiewicz, Restless Bandit founder Steve Goodman, and Talentbin (acquired by Monster) founder Peter Kazanjy.
“Since the company formation when we first invested, Incredible Health has built strong network effects into their marketplace,” commented NFX Managing Partner James Currier. “Iman, Rome and the team are now poised to have a lasting impact in all our lives and communities by supporting the nurses and hospitals that support us all.”