IntelyCare, a Quincy-based startup with an app that lets post-acute facilities hire on-demand nursing professionals, raised $45 million in debt and equity in a Series B round. The round was led by new investor Endeavour Vision with Kaiser Permanente Ventures and Generator Ventures participating.
The new financing brings the company's total venture funding to $59 million.
Co-founder and CEO of IntelyCare David Coppins told BostInno the proceeds of the round would be channeled into expanding into health care workforce management, going beyond just nurse staffing.
"We're not ready to reveal the specifics yet; we're in a bit of stealth with our product and service plans," Coppins said. "We're looking to expand and solve broader pain points for our clients, an extension of the offerings we can provide."
The new funding will be used to hire up to 60 new people, primarily in technology, data science and sales, Coppins told our sister publication the Boston Business Journal. About 40 of those will be based in the Quincy headquarters, which IntelyCare just signed a lease to expand by 2,500 sq. ft.
The six-year-old company, which is often billed as "Uber for nursing home staffing," runs a network of 11,000 nursing professionals who have the flexibility to pick their own shifts.
The app developed by IntelyCare works like a dashboard for nurses, onboarding new nurses, providing a job board, letting nurses book shifts and handle payments. IntelyCare gets a 20 percent commission paid by the facilities.
IntelyCare works with the long-term care service providers like Genesis HealthCare and Saber Healthcare Group. It competes with large, public companies including Cross Country Healthcare and AMN Health Care Services.
IntelyCare's promise to address burnout by offering flexible hours and better work-life balance is timely. Last September, close to 6,500 nurses in California, Arizona, Florida, and Illinois participated in a 24-hour strike demanding better nurse-to-patient ratios and better retention.
Although IntelyCare's focus is on elder care and skilled nursing, Coppins said that the company is working with these issues in mind. For instance, all nurses using the IntelyCare platform are the company's W2 employees, and not independent contractors.
"We are addressing the number one concern of nursing unions," Coppins said. "Nurses get mandated to do double shifts and overtime. That has always been their No. 1 complaint. What we're offering is a full-time staff available to work flexible shifts so the existing staff won't get burnt out."
