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Venture Capital
iconventures.com

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Investments

206

Portfolio Exits

64

Funds

9

Service Providers

1

About Icon Ventures

Icon Ventures is a specialty venture capital firm focused on leading Series B or C financings. With over $780 million under management, Icon invests with the world's leading venture firms in companies that are category winners at their earliest stages of momentum. Icon Ventures investments include iconic, market-leading companies such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks and Proofpoint.

Icon Ventures Headquarter Location

505 Hamilton Avenue Suite 310

Palo Alto, California, 94301,

United States

650-463-8800

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Latest Icon Ventures News

Nomad Health Raises $105 Million to Expand to New Specialties and Address Healthcare Staffing Crisis

Jun 27, 2022

New Investor HealthQuest Joins Existing Investors Including Adam Street Partners And Icon Ventures As Digital Marketplace Now Reaches Allied Health Professionals June 27, 2022 09:30 AM Eastern Daylight Time NEW YORK--( BUSINESS WIRE )-- Nomad Health , the leading digital marketplace for temporary healthcare jobs, today announced the closing of a $105 million financing co-led by Adams Street Partners and Icon Ventures. New equity investor HealthQuest Capital committed the largest sum and was joined by existing investors Polaris Partners, .406 Ventures, AlleyCorp, and RRE Ventures, and new debt providers J.P. Morgan and Trinity Capital. This brings Nomad’s total funding to over $200 million since its founding in 2015. Nomad’s latest financing round comes as the healthcare staffing crisis reaches a new high. With the strains of the COVID-19 pandemic, an aging population, and high rates of burnout among American healthcare workers, the need for providers at facilities across the country has never been more acute. In addition to continuing to support the rapidly growing demand for its travel nursing product, Nomad will use this new funding to expand its marketplace beyond travel nurses to now serve an expansive group of allied health professionals, including laboratory technicians, physical therapists, and ultrasound technicians. “In the past year, Nomad has experienced tremendous growth in a category we pioneered, connecting temporary healthcare workers to hospitals and healthcare systems seamlessly through technology,” said CEO and co-founder Alexi Gharib Nazem, M.D., M.B.A. “The COVID-19 pandemic has exposed and accelerated the healthcare workforce crisis that has been a powerful undercurrent in healthcare for decades. This 21st century scale problem direly needs a 21st century solution. We have been working hard to think differently and to apply technology, sophisticated data science, and best business practices from across industries so that Nomad can more efficiently, effectively, and scalably serve clinicians of all types at health systems all across the country.” Since January 2021, Nomad clinicians have cared for millions of patients at over one thousand healthcare facilities across all 50 states. The user base now includes more than 250,000 healthcare workers who have submitted nearly half a million job applications on the platform. Nomad’s revenue has increased more than seven-fold, and the company is profitable. Nazem went on to say, “We are truly excited to expand our marketplace to more clinicians, bringing us a step closer to achieving our mission of eliminating the barriers between providers and patients. We could not be more excited for this important next stage of our company’s journey.” In addition to the new financing and business expansion, Nomad announced the hiring of Maquel Shaw as Chief Marketing Officer. A marketing veteran with over a decade of experience, Ms. Shaw comes from Overstock.com, where she most recently served as interim Chief Marketing Officer, tasked with overseeing a multi-million-dollar budget and leading the creation and execution of national marketing and brand campaigns. She will lead Nomad’s marketing efforts as the company enters a new phase of growth and maturity. “Nomad Health is truly revolutionizing the healthcare staffing experience,” said Maquel Shaw, Chief Marketing Officer at Nomad Health. “It’s critical to bring the company’s transformative innovations and platform to more clinicians and more health systems. I cannot imagine a more important cause to champion or a more exciting company to join at this crucial time for healthcare.” Nomad also announced that Garheng Kong, MD, PhD, MBA, will join the company’s Board of Directors. Dr. Kong is the founder and managing partner of HealthQuest Capital, a growth capital firm focused on innovative health care companies, including Tiger Connect, Castle Biosciences, Thirty Madison, and Everly Health. Dr. Kong commented, “Nomad brings innovation and flexibility to solving the persistent healthcare talent shortage in the US. The company is uniquely positioned to leverage technology in a way that improves the user experience and generates insights to improve the recruiting and placement process, and drives down costs. We’re excited to invest our capital and expertise into the company for its next stage of growth and scale.” About Nomad Health Nomad Health is a Joint Commission Certified technology company that is simplifying the $40 billion healthcare staffing industry. The company has built the first online marketplace for temporary clinical jobs. Nomad offers higher pay to clinicians, lower costs to health systems, and a streamlined, transparent process to the entire market. Nomad is simple, modern healthcare staffing on demand. Learn more at www.nomadhealth.com . About Adams Street Partners Adams Street Partners is a global private markets investment manager with investments in more than thirty countries across five continents. The firm is 100% employee-owned and has approximately $45 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on nearly 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo. Visit www.adamsstreetpartners.com About Icon Ventures Icon Ventures believes that great companies start with extraordinary entrepreneurs. Icon Ventures is a best-in-class venture capital firm specializing in Series B and C financings. With over $1.3 billion under management, Icon leads financings alongside the most successful early-stage venture firms in companies that are category winners. To date, Icon Ventures has had 34 successful exits that exceed over $90 billion in exit value. They include Aster Data (Teradata), Bill.com (BILL), FireEye (FEYE), 41st Parameter (Experian), Infinera (INFN), MoPub (Twitter), Opcity (News Corp), Palo Alto Networks (PANW), Proofpoint (PFPT) and Teladoc (TDOC). For more information visit iconventures.com and follow @iconventures. About HealthQuest Capital Based in the San Francisco Bay Area, HealthQuest Capital is a growth capital firm investing in commercial-stage companies that are optimizing value in healthcare by improving outcomes and reducing costs. With more than $1.6 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics, digital health and innovative services. The HealthQuest team combines decades of successful investing experience with deep domain expertise in all aspects of the healthcare industry. For more information, visit www.healthquestcapital.com . Contacts

Icon Ventures Investments

206 Investments

Icon Ventures has made 206 investments. Their latest investment was in Nomad Health as part of their Series E on June 6, 2022.

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Icon Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/27/2022

Series E

Nomad Health

No

2

3/10/2022

Series B

DataRails

$50M

Yes

22

2/22/2022

Series C

Timescale

$110M

No

11

12/15/2021

Series C

Subscribe to see more

$99M

Subscribe to see more

10

11/22/2021

Series C

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/27/2022

3/10/2022

2/22/2022

12/15/2021

11/22/2021

Round

Series E

Series B

Series C

Series C

Series C

Company

Nomad Health

DataRails

Timescale

Subscribe to see more

Subscribe to see more

Amount

$50M

$110M

$99M

$99M

New?

No

Yes

No

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

22

11

10

10

Icon Ventures Portfolio Exits

64 Portfolio Exits

Icon Ventures has 64 portfolio exits. Their latest portfolio exit was Area 1 Security on April 01, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/1/2022

Acquired

$99M

8

7/29/2021

Acquired

$99M

8

6/22/2021

Reverse Merger

$99M

5

5/17/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

2/23/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

4/1/2022

7/29/2021

6/22/2021

5/17/2021

2/23/2021

Exit

Acquired

Acquired

Reverse Merger

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

8

8

5

10

10

Icon Ventures Fund History

9 Fund Histories

Icon Ventures has 9 funds, including Icon Ventures VI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/22/2018

Icon Ventures VI

Early-Stage Venture Capital

Closed

1

10/22/2018

Icon Ventures Fund VI

$99M

10

4/10/2014

Jafco Technology Partners V

Subscribe to see more

Subscribe to see more

$99M

10

4/13/2010

JTP IV

$99M

10

2/26/2010

JAFCO Technology Partners IV LP

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

10/22/2018

10/22/2018

4/10/2014

4/13/2010

2/26/2010

Fund

Icon Ventures VI

Icon Ventures Fund VI

Jafco Technology Partners V

JTP IV

JAFCO Technology Partners IV LP

Fund Type

Early-Stage Venture Capital

Subscribe to see more

Subscribe to see more

Status

Closed

Subscribe to see more

Subscribe to see more

Amount

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Icon Ventures Service Providers

1 Service Provider

Icon Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Icon Ventures Team

13 Team Members

Icon Ventures has 13 team members, including current Managing General Partner, Joe Horowitz.

Name

Work History

Title

Status

Joe Horowitz

Geocast Network Systems, U.S. Venture Partners, and Exxon Capital Ventures

Managing General Partner

Current

Thomas M. Mawhinney

General Partner

Current

Thomas Mawhinney

General Partner

Current

Jeb Miller

The Carlyle Group, ComVentures, Worldview Technology Partners, Scient, and Morgan Stanley

General Partner

Current

Michael Mullany

General Partner

Current

Name

Joe Horowitz

Thomas M. Mawhinney

Thomas Mawhinney

Jeb Miller

Michael Mullany

Work History

Geocast Network Systems, U.S. Venture Partners, and Exxon Capital Ventures

The Carlyle Group, ComVentures, Worldview Technology Partners, Scient, and Morgan Stanley

Title

Managing General Partner

General Partner

General Partner

General Partner

General Partner

Status

Current

Current

Current

Current

Current

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