IntelyCare, a Massachusetts-based nurse-staffing platform for long-term care, assisted living, and rehabilitation facilities, has raised $10.8 million from venture investors, less than a week before voters weigh in on a new state mandate hospital for patient-to-nurse ratios.
San Francisco firm Leerink Revelation Partners led the Series A funding round and was joined by Longmeadow Capital, LRVHealth, and entrepreneur Bill Mantzoukas. Last year, Quincy, MA-based IntelyCare raised $3 million through debt financing and other securities, according to filings with regulators.
IntelyCare says its artificial intelligence technology automates scheduling and filling shifts at post-acute care facilities, such as rehabilitation facilities, skilled nursing facilities, and long-term care facilities. The facilities pay flat rates for IntelyCare’s staffing tool, which competitively prices the nurse wages based on how easy or hard it is to fill the shift.
The new funding will be spent on bringing more nurses and healthcare facilities into the startup’s system and expanding features on the scheduling platform, the company says.
“The staffing shortage is a real challenge, and better allocation of nursing professionals—which can be done by giving them more freedom and flexibility to work where and when they want—needs to be part of the solution,” David Coppins, co-founder and CEO of IntelyCare, says in a prepared statement.
The Massachusetts proposal on the ballot would set different minimum nursing staffing ratios for a variety of hospital settings from critical care to maternity, emergency department, post-anesthesia care. IntelyCare says it is currently focused on non-hospital rehab and long-term care settings, but adds that its technology is flexible enough to help hospitals and it does plan to expand to other areas that could be impacted by the proposed staffing requirements.
Scott Halsted, managing partner at Leerink Revelation Partners who is joining the company’s board as part of the funding deal, says temporary healthcare staffing is a $17 billion business in the U.S.—and one that’s ripe for better systems.
Photo by rawpixel downloaded from Unsplash and used in accordance with Unsplash free license.
