Total amount raised
$174.8 Millions
Latest funding date
11/01/2021
Location
Trusted has successfully raised significant funding, including a $94 million Series C round, with backing from notable investors such as Craft Ventures, Felicis Ventures, and StepStone Group. The platform offers a user-friendly experience for healthcare professionals, providing transparency, access, and control over their job opportunities.
Keep reading to explore the intricacies of Trusted's fundraising journey and the investors backing this innovative platform.
What Is Trusted?
Trusted, founded in 2017, is a healthcare staffing company based in San Francisco, California. The company was established by Lennie Sliwinski, Matt Pierce, and Sarah Gray.
Operating within the employment, healthcare, human resources, lifestyle, and staffing agency industries, Trusted connects healthcare professionals with job opportunities that align with their preferences and career goals. The company employs between 251 and 500 people.
Trusted's platform, Trusted Works, assists hospitals in managing their clinical workforce needs, offering predictive insights and recommendations to help fill open job requisitions with high-quality talent.
How Much Funding Has Trusted Raised?
- Pre-Seed Round
- Amount Raised: $300,000
- Date: May 2015
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial operations and product development.
- Seed Round
- Amount Raised: $1.5 million
- Date: August 2017
- Lead Investors: Founder Collective
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and develop the initial version of the platform.
- Seed Round
- Amount Raised: $4 million
- Date: August 2018
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Series A
- Amount Raised: $20 million
- Date: May 2019
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand market reach.
- Series B
- Amount Raised: $55 million
- Date: March 2020
- Lead Investors: Craft Ventures, Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and develop the Works platform.
- Series C
- Amount Raised: $94 million
- Date: November 2021
- Lead Investors: Greenspring Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the Works platform and double the company's headcount by the end of 2022.
Total Amount Raised: $175 million. Current Valuation: Not publicly disclosed.
Key Investors
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that was recently acquired by StepStone Group, a global private markets investment firm. They focus on venture capital investments across various stages and sectors.
- Investment Focus Areas: Venture capital funds, growth-stage companies.
- Notable Investments: Uber, Grubhub, Snap.
- Craft Ventures
- Details: Craft Ventures is an early-stage venture capital firm that invests in technology companies. They are known for backing companies with the potential to disrupt existing markets.
- Investment Focus Areas: Early-stage technology companies, disruptive markets.
- Notable Investments: Airbnb, SpaceX, Reddit.
- Felicis
- Details: Felicis is a venture capital firm that invests in early-stage companies across various sectors. They have a strong focus on technology and healthcare.
- Investment Focus Areas: Early-stage technology, healthcare, consumer products.
- Notable Investments: Shopify, Fitbit, Credit Karma.
- Founder Collective
- Details: Founder Collective is a seed-stage venture capital firm that focuses on technology startups. They aim to be the most aligned fund for founders at the seed stage.
- Investment Focus Areas: Seed-stage technology startups.
- Notable Investments: Uber, BuzzFeed, HotelTonight.
- Techstars
- Details: Techstars provides seed funding and accelerator programs for early-stage startups. They have a global network that supports entrepreneurs in bringing new technologies to market.
- Investment Focus Areas: Early-stage startups, accelerator programs.
- Notable Investments: SendGrid, DigitalOcean, Sphero.
What's Next for Trusted?
Trusted is poised to revolutionize healthcare staffing with its innovative Works platform, which unites internal and external labor sources into a single operating system. This comprehensive tool offers hospitals real-time visibility and actionable insights, enabling them to manage staffing needs efficiently. With $149 million in recent funding, Trusted aims to double its headcount and expand the platform's reach, addressing the increasing demand for healthcare services.
As the company scales, future fundraising opportunities may arise to support further growth and technological advancements. However, Trusted will need to navigate challenges such as rapid scaling and ensuring the successful adoption of its platform in a competitive market. The company's ability to manage these hurdles will be crucial in maintaining its trajectory and achieving long-term success.
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