The funding will help Nomad Health expand its offering to cater to new clinical specialties. Here are the top-line bullets you need to know.
Nomad Health, a healthcare staffing marketplace, has raised $105M in a mix of debt and equity. The Series E equity round drew participation from Adams Street Partners, .406 Ventures, RRE Ventures, and Icon Ventures, among others. The debt financing was provided by J.P. Morgan Chase & Co. and Trinity Capital Investment.
HOW’S THE COMPANY PERFORMING?
- New York-based Nomad Health helps connect traveling nurses with open positions.
- The company claims to have increased its revenue by more than 7x and catered to over 1K+ healthcare facilities across 50 states since January 2021.
- The platform currently has a user base of 250K healthcare workers.
- Nomad Health is supported by a team of over 170 employees.
Source: Nomad Health
WHY DOES THE MARKET MATTER?
- The global digital health market is expected to reach a value of $767.7B by 2030, growing at a CAGR of 17.9%, according to Allied Market Research.
- Digital health startups pulled in a record-breaking $57.2B in funding in 2021, up 79% from 2020 totals. Funding in all geographies hit record levels in 2021, fueled by the growing need to provide digital solutions and delivery models to patients during the pandemic.
- The pandemic has placed incredible pressure on healthcare systems across the globe, which has driven up the demand for digital health solutions that address increasing costs, administrative burdens, physician burnout, and staff shortages.
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