ShiftMed, a healthcare workforce management marketplace, announced yesterday that it has raised $200 million to expand its footprint and grow its acute, in-home, and health system service lines. The funding was led by Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital. The company reports that it has raised a total of $250 million to date.
Unlike many traditional staffing agencies that treat nurses as independent contractors, ShiftMed employs nurses as W-2 employees. Nurses who work with ShiftMed are actual employees, entitled to benefits and protections not typically extended to 1099 contractors. For example, ShiftMed nurses are protected with provisions such as minimum wage, overtime, and family and medical leave. They also participate in traditional employee benefits such as health and dental insurance.
