How Much Did Trusted Raise? Funding & Key Investors

Trusted has successfully raised funding over six rounds, with the latest being a Series C round. The platform is backed by 16 investors, including notable names like FJ Labs and Greenspring Associates.

Keep reading to explore the intricacies of Trusted's fundraising journey and the investors backing this innovative platform.

What Is Trusted?

Trusted Inc is a labor marketplace for healthcare professionals, specializing in connecting travel nurses and allied health professionals with job opportunities. The company operates in multiple industries, including employment, health care, human resources, lifestyle, and staffing agency.

Founded in San Francisco, California, Trusted has an employee count ranging from 251 to 500. The platform offers a user-friendly experience designed by clinicians, providing transparency, real-time job alerts, and comprehensive support to improve the job-finding process for clinicians.

How Much Funding Has Trusted Raised?

1. Pre-Seed Round
   • Amount Raised: USD 300,000
   • Date: May 2015
   • Lead Investors: Techstars
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of the platform and initial operations.
2. Seed Round
   • Amount Raised: USD 1,500,000
   • Date: August 2017
   • Lead Investors: Founder Collective
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and further develop the platform.
3. Seed Round
   • Amount Raised: USD 4,000,000
   • Date: August 2018
   • Lead Investors: Felicis
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance platform features.
4. Series A Round
   • Amount Raised: USD 20,000,000
   • Date: May 2019
   • Lead Investors: Craft Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand market reach.
5. Series B Round
   • Amount Raised: USD 55,000,000
   • Date: March 2020
   • Lead Investors: Craft Ventures, Felicis
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the development and rollout of the Works platform and other growth initiatives.
6. Series C Round
   • Amount Raised: USD 94,000,000
   • Date: November 2021
   • Lead Investors: Greenspring Associates
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch the Works platform and grow the company's headcount, which is expected to double by the end of 2022.

Total amount raised: USD 174,800,000. Current valuation: Not publicly disclosed.

Key Investors

• Greenspring Associates (StepStone Group)
  • Details: Greenspring Associates, recently acquired by StepStone Group, is a venture capital and growth equity firm. They led the $94 million Series C funding round for Trusted.
  • Investment Focus Areas: Venture capital, growth equity, technology-driven companies.
  • Notable Investments: Uber, Airbnb, Snap.
• Craft Ventures
  • Details: Craft Ventures is an early-stage and growth-stage investment firm. They led the $55 million Series B funding round for Trusted.
  • Investment Focus Areas: Technology companies, software, marketplaces, e-commerce.
  • Notable Investments: SpaceX, Reddit, Bird.
• Felicis Ventures
  • Details: Felicis Ventures is an early-stage investment firm. They co-led the $55 million Series B funding round for Trusted.
  • Investment Focus Areas: Technology companies, healthcare, software, consumer products.
  • Notable Investments: Shopify, Fitbit, Plaid.
• Founder Collective
  • Details: Founder Collective is a seed-stage venture capital fund. They led the $1.5 million Seed funding round for Trusted.
  • Investment Focus Areas: Early-stage technology companies, consumer products, healthcare.
  • Notable Investments: Uber, BuzzFeed, HotelTonight.
• Techstars
  • Details: Techstars is a global platform for investment and innovation. They led the $300,000 Pre-Seed funding round for Trusted.
  • Investment Focus Areas: Early-stage startups, technology, innovation.
  • Notable Investments: SendGrid, Sphero, DigitalOcean.

What's Next for Trusted?

Trusted is poised to revolutionize healthcare staffing with the launch of its Works platform, which integrates internal and external labor sources for hospitals. This innovation offers significant growth potential as it addresses the increasing demand for efficient workforce management in healthcare. With $149 million in recent funding, Trusted aims to double its headcount by the end of 2022, positioning itself for substantial market expansion.

Future fundraising opportunities seem promising given the platform's potential to streamline staffing processes and improve operational efficiency for healthcare systems. However, Trusted may face challenges in scaling operations and ensuring the successful adoption of its platform across diverse healthcare settings. Navigating these complexities will be crucial for sustained growth and success.

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