Total amount raised
$99.6 Millions
Latest funding date
08/01/2022
Location
Incredible Health has successfully raised significant funding over multiple rounds, with the latest being a Series B round in August 2022. The platform leverages AI technology to streamline the hiring process for healthcare professionals, reducing the average hiring time from 86 days to just 20 days.
With backing from 17 investors, including 444 Capital and Rethink Impact, Incredible Health continues to innovate in the healthcare recruitment space. Keep reading to explore the intricacies of Incredible Health's fundraising journey and the investors backing this transformative platform.
What Is Incredible Health?
Incredible Health, founded in 2017 by Iman Abuzeid and Rome Portlock, is based in San Francisco, California. The company operates an AI-powered career marketplace that connects healthcare professionals, particularly nurses, with employers.
Incredible Health's platform allows healthcare employers to apply to candidates, significantly speeding up the hiring process. The company offers additional services such as free continuing education, personal talent advocates, and a salary estimator.
With a team of 101-250 employees, Incredible Health aims to streamline the hiring process and provide a personalized experience for both job seekers and employers.
How Much Funding Has Incredible Health Raised?
- Pre-Seed Round
- Amount Raised: $2.3M
- Date: November 2016
- Lead Investors: NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and validate the business model.
- Seed Round
- Amount Raised: $2.3M
- Date: July 2017
- Lead Investors: Obvious Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and further develop the platform.
- Series A
- Amount Raised: $15M
- Date: September 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $80M
- Date: August 2022
- Lead Investors: Base10 Partners
- Valuation at Round: $1.65 billion
- Motivation Behind the Round: To optimize hiring workflows, support healthcare workers, and expand the platform's reach.
Total Amount Raised: $99.6M
Current Valuation: $1.65 billion
Key Investors
- Base10 Partners
- Details: Base10 Partners is a venture capital firm that led the Series B funding round for Incredible Health. They focus on aligning the success of tech companies with wealth creation for underrepresented minorities.
- Investment Focus Areas: Technology, automation, future of work.
- Notable Investments: Devoted Health, Notion, Figma, Plaid.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm that participated in multiple funding rounds for Incredible Health. They are known for their extensive portfolio in the technology sector.
- Investment Focus Areas: Technology, consumer products, enterprise software.
- Notable Investments: Facebook, Airbnb, Slack.
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that invests in companies aiming to make a positive impact on the world. They have been involved with Incredible Health since the seed round.
- Investment Focus Areas: World-positive companies, sustainability, health.
- Notable Investments: Beyond Meat, Olly, Proterra.
- Kaiser Permanente
- Details: Kaiser Permanente is one of the largest healthcare organizations in the United States. They participated in the Series B funding round for Incredible Health.
- Investment Focus Areas: Healthcare, medical innovations, patient care.
- Notable Investments: Not specified in the provided sources.
- Rethink Impact
- Details: Rethink Impact is a venture capital firm focused on social impact and gender diversity. They joined the Series B funding round for Incredible Health.
- Investment Focus Areas: Social impact, gender diversity, technology.
- Notable Investments: Ellevest, EverFi, Spring Health.
What's Next for Incredible Health?
Incredible Health stands at the cusp of significant opportunities, poised to expand its services to cover 90% of the U.S. nurse workforce and other critical healthcare roles. The platform's ability to optimize hiring workflows using machine learning technology and support healthcare workers throughout their careers positions it well for future growth.
Given the substantial market potential, future fundraising opportunities are likely as the company continues to scale its operations and enhance its technology. The successful Series B round suggests that additional funding rounds could be on the horizon to support these ambitious plans.
However, challenges such as managing rapid growth, ensuring the quality of machine learning algorithms, and navigating the competitive landscape of healthcare recruitment technology remain. Addressing these issues will be crucial for Incredible Health as it continues to innovate and expand its market reach.
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