Total amount raised
$240 Millions
Latest funding date
06/01/2024
Location
Nomad Health has successfully raised $22 million in its latest Series E funding round, with backing from 13 investors including Adams Street Partners and HealthQuest Capital.
Keep reading to explore the intricacies of Nomad Health's fundraising journey and the investors backing this innovative platform.
What Is Nomad Health?
Nomad Health, founded in 2015, is an online staffing marketplace based in New York, New York. The company connects clinicians to healthcare jobs, aiming to simplify the chaotic healthcare staffing system with a modern technology platform.
Founded by Alexander Pease, Alexi Nazem, Kevin Ryan, Maxwell Laurens, and Ryan Grant, Nomad Health enables doctors and nurses to search for work by price, location, and more. They offer a digital platform that matches clinicians to open travel healthcare positions nationwide.
With a workforce of 501-1000 employees, Nomad Health provides benefits like medical, dental, and vision insurance, 401(k), malpractice insurance, and partial travel reimbursement. Their mission is to streamline the job search and application process for healthcare professionals.
How Much Funding Has Nomad Health Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Nomad Health's platform and initial operations.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: July 2016
- Lead Investors: Grand Central Tech
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Grand Central Tech.
- Series A
- Amount Raised: $4 million
- Date: July 2016
- Lead Investors: First Round Capital, RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and increase market reach.
- Series B
- Amount Raised: $12 million
- Date: February 2018
- Lead Investors: Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Series C
- Amount Raised: $34 million
- Date: August 2019
- Lead Investors: Icon Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform and market presence.
- Series D
- Amount Raised: $63 million
- Date: September 2021
- Lead Investors: Adams Street Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance technology and services.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Venture Round
- Amount Raised: $105 million
- Date: June 2022
- Lead Investors: Adams Street Partners, Icon Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance technology and services.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series E
- Amount Raised: $22 million
- Date: June 2024
- Lead Investors: HealthQuest Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product portfolio and meet the demand for staffing technology.
Total Amount Raised: $240 million
Current Valuation: Not publicly disclosed
Key Investors
- HealthQuest Capital
- Details: HealthQuest Capital is a growth capital firm focused on companies that improve patient outcomes, reduce healthcare costs, and increase efficiency. They are based in the San Francisco Bay Area and have more than $1.6 billion in capital under management.
- Investment Focus Areas: Healthcare services, medical devices, diagnostics, digital health.
- Notable Investments: Avedro, Castle Biosciences, Truvian Sciences.
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager that provides customized portfolios for institutional investors. They have a broad investment strategy that includes venture capital, growth equity, private credit, and secondary investments.
- Investment Focus Areas: Venture capital, growth equity, private credit, secondary investments.
- Notable Investments: BigCommerce, DocuSign, Magic Leap.
- Icon Ventures
- Details: Icon Ventures is a venture capital firm that invests in early to growth-stage technology companies. They focus on companies that have the potential to become market leaders in their respective sectors.
- Investment Focus Areas: Enterprise software, consumer internet, mobile.
- Notable Investments: FireEye, Palo Alto Networks, Teladoc.
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. They have a long history of supporting innovative companies that drive significant advancements in their fields.
- Investment Focus Areas: Healthcare, technology, consumer products.
- Notable Investments: Akili Interactive, Ironwood Pharmaceuticals, Receptos.
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm that focuses on technology startups. They are known for their hands-on approach and extensive network, which helps early-stage companies grow and succeed.
- Investment Focus Areas: Technology startups across various sectors.
- Notable Investments: Uber, Square, Warby Parker.
What's Next for Nomad Health?
Nomad Health stands at the cusp of significant growth opportunities, driven by the increasing demand for healthcare staffing solutions. With the recent $22 million funding, the company is poised to expand its product portfolio and enhance its technology to meet the needs of healthcare facilities nationwide. This expansion is crucial as the healthcare staffing market continues to grow, with substantial investments being made by competitors.
Future fundraising opportunities appear promising, given the competitive landscape and the company's strategic positioning. Additional funding rounds could help Nomad Health maintain its market position and continue its growth trajectory. However, the company may face challenges such as competition from well-funded rivals and the need to manage operational costs while scaling its services.
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