Investing in Health | August 19, 2022

ImpactAlpha Deal Spotlight: Addressing the nursing shortage

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 19 — In the early months of the Covid pandemic, cheers would break out every evening in many cities to honor healthcare workers on the front lines. Nonetheless, many of these experienced health workers were soon leaving in droves due to burnout, long hours and insufficient pay.

The U.S. could face a shortage of 1 million nurses by 2024. San Francisco-based Incredible Health raised $80 million this week to help fill the gap. The company’s algorithm-driven platform connects hospitals with nursing talent, helping nurses  secure jobs they love, and thrive.

Incredible Health will use the Series B investment to expand from its California base and provide training, relocation and other services to the more than 10,000 nurses joining its platform each week. Base10 Partners, the lead investor in the round, will work with Incredible Health to provide scholarships to nursing students. 

Delivering health services

Cambridge, Mass.-based Nanopath raised $10 million for its rapid diagnostics testing designed for women’s healthcare providers… Brentwood, Tenn.-based CareHarmony raised $15 million in Series A funding to deliver low-cost virtual healthcare services… In Indonesia, digital pharmacy startup Lifepack scored $7 million in Series A funding to provide affordable prescription delivery to patients.