Unimaginable Well being passes unicorn valuation because it baggage $80M

Unimaginable Well being, a U.S.-based job-matching platform which made nurses its first focus, has closed an $80 million Collection B funding spherical and announced hitting a $1.65 billion unicorn valuation, billing itself as the best valued “tech-enabled” profession market within the healthcare sector — a few (pandemic-struck) years after closing a $15 million Series A.

The most recent elevate is led by Base10 Companions, with current buyers Andreessen Horowitz and Apparent Ventures additionally returning to again the startup. Different buyers within the Collection B embody Unimaginable Well being buyer Kaiser Permanente; plus a roster of angels and funds together with Workday CEO Chano Fernando; NBA Champion Andre Iguodala; Rethink Affect; Stardust Fairness; and the D’Amelio household, together with TikTok personalities Charli and Dixie D’Amelio, who joined the spherical by way of their 444 Capital Fund.

Unimaginable Well being mentioned the brand new funding will go on supporting initiatives to assist well being techniques and their staff handle surging affected person care demand — together with by optimizing hiring workflow with using machine studying know-how (which it says will embody “screening and matching”) to extend course of automation and personalization for each healthcare staff and employers; profession assist for nurses and healthcare staff, together with round abilities progress, schooling, mobility and relocation; and new options for its neighborhood hub for nurses, akin to personalised recommendation and content material rating. 

The startup is capturing to increase and scale its platform to 90% of the U.S. nurse workforce, and in addition is eyeing transferring into catering to healthcare employee roles past nursing which have crucial shortages. (For nurses, it says the crucial scarcity means the U.S. is on observe to be 1 million nurses brief by the tip of 2023.)

“Nurses are the spine of the US healthcare system, and so they deserve the well-staffed groups and instruments to not solely succeed but additionally really feel fulfilled of their careers,” mentioned Iman Abuzeid M.D., CEO and co-founder, in a press release. “Our mannequin has met the second and altered the paradigm for each nurses and healthcare suppliers in probably the most difficult time in U.S. healthcare. We’re excited to speed up our progress to have an effect on much more change.”

Unimaginable Well being is dubbing 2021 a “milestone” yr in efficiency, with the startup clocking up a greater than 500% enhance in income. It additionally says greater than 10,000 nurses be a part of its market each week, and claims it’s been capable of scale back the typical time to rent to 14 days from the business commonplace of 82 days. On the employer facet, it says it has signed up greater than 60% of the “top-ranked” hospitals within the U.S. — with round 600 hospitals utilizing its platform for everlasting staffing.

Commenting on its Collection B in a press release, Jamison Hill, associate at Base10 Companions, added: “Unimaginable Well being is an thrilling addition to the Advancement Initiative portfolio. The corporate’s mission and assist for nurses carefully align with our values however what really makes Unimaginable Well being particular is how the corporate has remodeled the best way well being techniques recruit expertise and nurses discover work. The corporate is fixing an pressing want in healthcare and we’re excited to be part of its subsequent stage of progress.”

For extra on Unimaginable Well being’s progress spurt, take a look at our current Found podcast interview with Abuzeid:

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