Recruiting Platform Nursa Secures $80 Million in Funding
December 5, 2023 – Nursa, a per diem nursing recruiting platform, recently completed an $80 million series B funding round. The round was led by Drive Capital, a Columbus, OH-based venture capital firm. Joining the round were existing partners Pelion Venture Partners, a Salt Lake City, UT-based venture capital firm, and Kickstart Fund, a Cottonwood Heights, UT-based venture capital firm. Total funding at Salt Lake City-based Nursa is now $100 million. “Recruiting firms — even ones with technology — are severely limited in their ability to find specialized nurses with experience and credentials to fit their patient needs,” said Molly Bonakdarpour, general partner of Drive Capital. “Typically, these groups are limited to their existing networks, require contracts and can’t staff for true per diem, increasing unnecessary costs for providers.”
Nursa’s platform was built to enable healthcare facilities to fill shifts quickly with qualified nurses from their community, according to the company. It has nearly 300 team members at its Salt Lake City headquarters and in remote positions. The company, founded in 2019, says it has 95,000 nurse users.
“Providers have operated on thin margins for years,” said Curtis Anderson, founder and CEO. “We all know the definition of insanity is doing the same thing over and over and expecting different results. We cannot operate business as usual. The staffing shortage is bigger than nurses, agencies, and systems. As the need for care continues to grow across the country, we need a diversity of experts in tech, experience, nursing, administration, and healthcare legislation to solve this problem.
Investment Funding
Investors are pouring money into recruiting solutions businesses, especially those with a psychology and data science component. Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Candidate.fyi recently secured a $1.3 million pre-seed funding round. The company’s platform offers a candidate portal for candidates to receive information in their journey, pulse surveys to collect feedback from job candidates, the ability for job candidates to book meetings online and create profiles and an upcoming scheduling feature. Founded by brothers, Kyle and Chris Connors, with expertise derived from roles with Google and technical leadership positions, candidate.fyi integrates with existing workflows and over 40 applicant tracking systems to automate candidate preparation, scheduling, communication, and feedback. Some of its clients include Synthesia, Tropic, Yext, Thrive Market, and MariaDB.
HR software start-up Rippling has raised $500 million in a new funding round initially intended to help customers make payroll in the aftermath of Silicon Valley Bank’s (SVB) collapse. The round, led by technology investor Greenoaks Capital, gave Rippling the same valuation of $11.25 billion it had clinched after its previous capital raise last year, the company said. Rippling announced in a March 17 blog post that it received a $500 million series E funding round. Putting the round together took less than three days and took place after the SVB collapse, according to the post. It also noted that it has moved its banking operations to JPMorgan Chase.
Glider AI, a Cupertino, CA-based skill intelligence platform provider, raised $10 million in series A funding. The round was led by Primera Capital. The company intends to use the funds to continue its expansion in contingent programs and permanent hiring, furthering the development of proprietary technology, and growing its global team. Founded in 2020 by Satish Kumar, Glider AI provides hiring solutions, including screening, assessments, coding/video interviews, and upskilling software to scale hiring talent for the enterprise, staffing firms, and MSPs.
ShiftKey, a Dallas-based healthcare recruiting company, has closed on a funding round sponsored by majority investor Lorient Capital, valuing the company in excess of $2 billion. Crunchbase News reported the round was for $300 million. Lorient’s investment was completed through a continuation vehicle that was led by the Ares Management Secondaries funds and Pantheon. Additional investors participating along with Lorient, Ares, and Pantheon include Clearlake Capital and Health Velocity Capital.
Chicago-headquartered referral recruiting service Hunt Club has raised $40 million Series B round co-led by WestCap and Sator Grove. The investment round follows Hunt Club’s $10 million Series A financing in October 2021, and will fuel the company’s national expansion, technology platform enhancements, and broaden its community of over 20,000 business leaders who help connect the most innovative companies to the world’s top candidates. “We’re reimagining the entire talent process. Top talent leaders are not only hard to find, but they are hard to reach – and traditional recruiting firms aren’t equipped to innovate for their customers,” said Nick Cromydas, co-founder and CEO of Hunt Club. “Our technology is bridging that gap, introducing a personalized approach to helping companies change the way they approach talent acquisition. Hunt Club is proud to partner with WestCap, a premier growth equity firm led by a team that has founded, invested in, and operated tech-enabled marketplaces such as Airbnb for over 20 years.”
Related: RefAssured Secures Funding
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media
