Incredible Health, a San Francisco-based career marketplace for permanent healthcare workers, has secured $80M in Series B funding led by Base10 Partners at a $1.65B valuation.
Existing investors Andreessen Horowitz and Obvious Ventures also returned for investment.
In addition, incredible Health customers Kaiser Permanente and new investors include Workday CEO Chano Fernandez, NBA Champion Andre Iguodala, Rethink Impact, Stardust Equity, and The D’Amelio family, also joined the round via their 444 Capital Fund.
How will the funding be used?
The funding will help the company’s initiatives to help health systems and employees manage surging patient care demand. Further, the funding will fuel national expansion and continued innovation in nurse hiring amid widespread industry shortages and upheaval.
The company is on a mission to help healthcare workers find and do their best work.
“Nurses are the backbone of the US healthcare system, and they deserve the well-staffed teams and tools to not only succeed but also feel fulfilled in their careers,” says Iman Abuzeid, MD, CEO and co-founder of Incredible Health. “Our model has met the moment and changed the paradigm for nurses and healthcare providers in the most challenging time in US healthcare. We’re excited to accelerate our growth to affect even more change.”
Marketplace healthcare workers
Founded by Iman Abuzeid and Rome Portlock, Incredible Health is the first and only platform to focus on permanent employees rather than contractors.
The company’s proprietary algorithm-based technology custom matches the needs of hospitals with the right nurses. The platform is already used by over 600 top hospitals nationwide. In addition, incredible Health has 180 remote employees in 35 states and continues to hire rapidly.
Last year, the company witnessed a 500 per cent increase in revenue in 2021.
More than 10,000 nurses join the marketplace every week, and the company has reduced the average time to hire to 14 days from the industry standard of 82 days.
Sixty percent of the top-ranked hospitals in the US, including Stanford Health Care, Cedars-Sinai Medical Center, NYU Langone Health, Northwestern Medicine, and 600 more hospitals, use Incredible Health for their permanent staffing needs.
“These past few years have brought many lessons learned, but one of the biggest is the importance of listening to our nurses, and right now – nurses need more nurses,” says CEO David Lubarsky, MD of UC Davis Health. “We’re glad to have streamlined our internal hiring operations to move past conventional time – with Incredible Health stepping in to do the heavy lifting. The company truly understands our workforce needs and provides the right technology and support to see their mission through.”
“Incredible Health is an exciting addition to the Advancement Initiative portfolio,” says Jamison Hill, partner at Base10 Partners. “The company’s mission and support for nurses closely align with our values, but what truly makes Incredible Health special is how the company has transformed how health systems recruit talent and nurses find work. The company is solving an urgent need in healthcare, and we’re excited to be a part of its next growth stage.”
