The funding brings Nomad Health to a $260M valuation. Here are the top-line bullets you need to know.
Nomad Health, a healthcare staffing marketplace, has raised $63M in a combination of debt and equity. The debt was raised from undisclosed investors while the equity was raised in a Series D round that drew participation from Icon Ventures, Polaris Partners, and RRE Ventures, among others.
How’s the company performing?
- Nomad Health’s digital platform connects healthcare workers to critical temporary job positions.
- Transactions on the platform have grown 7x, and revenue 5x, since February 2020. Notably, 2021 revenue to date already stands at double 2020 full-year revenue.
- Nomad Health’s employee count has grown 2x times to 170 over the same time frame.
- The company’s platform has enabled clinicians to cater to over 1M patients across all 50 US states.
Source: Nomad health
Why does the market matter?
- The digital health market is expected to be valued at $426.8B by 2027, growing at a CAGR of 17.4%, according to Global Market Insights.
- The onset and spread of Covid-19 has exacerbated the already-pressing healthcare staffing shortage, increasing the demand for solutions to help fill temporary positions. As a result, the temporary healthcare staffing segment is expected to grow 7% from 2020 to reach $21.3B this year, according to the Staffing Industry Analysts.