Trusted Health, a San Francisco-based nurse career platform founded by CEO Matt Pierce and president Lennie Sliwinski, announced it has raised $20 million in funding led by Craft Ventures. Previous investors Felicis Ventures and Founder Collective also joined this round.
And Trusted Health also officially launched support for flexible nursing opportunities nationwide and added permanent staff openings for nurses who are looking for more traditional employment. Nurses are able to 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. and 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.”
How does Trusted Health work? It combines a digital employment platform, personalized support, and a unique hiring structure that eliminates the hassles and controversy of 1099 contracting by offering W2 employment. Plus it has perks that are similar to those available in the high-tech industry. Through Trusted Health, nurses now have a single / go-to resource where they can grow professionally, explore new opportunities, and find answers to questions.
Trusted Health’s marketplace offers a fully automated online employment agency and simplifies job searches by providing candidates visibility into the latest openings. Plus the platform also streamlines the application process by digitizing, saving/managing resumes, credentials, and other key employee information. And it also has 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 are able to make informed decisions.
After 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. Plus Trusted Health provides nurses W2 employment, including overtime, paid sick leave, insurance, and other protections not available to 1099 contractors.
With this funding round, Trusted Health is going to enhance its tools and resources used by nurses, increase the types and quantities of opportunities available, and support the expansion of its employment operations into all 50 states and the District of Columbia. With initial operations in California last year, Trusted Health employed nurses in 20 states nationwide at the end of the first quarter of 2019. And more than 1,000 new nurses join Trusted Health’s platform every week for exploring job opportunities. In Q1 2019, 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,” added Jeff Fluhr — general partner at Craft Ventures and co-founder of StubHub — who is also 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.”