A Chicago startup with roots at the University of Chicago has raised new funding as it works to provide medical students and graduates with clinical training opportunities at health care systems.
AMOpportunities raised $5.4 million in a Series A round led by OCA Ventures and HealthX Ventures. Other investors include PACE Healthcare, Chicago Early Growth Ventures, University of Chicago, Dreamit Ventures and Wildcat LLC.
The new funding brings AMOpportunities’ total funding raised to $6.5 million. The Series A round includes $2.2 million that AMOpportunities announced in 2019, the company said.
Founded by Kyle Swinsky and Benjamin Bradley, AMOpportunities makes a platform that allows medical students to more easily be matched with clinical rotations at health care systems. The startup initially launched focused on matching international medical students with rotations in the U.S., but has now expanded its mission to connecting all students and their medical schools with hospitals in one software platform.
The software handles many of the administrative tasks required to find and recruit medical students, and allows teaching hospitals to spend more time educating and interacting with students.
AMOpportunities says it is working to address a projected shortfall in health workers. The World Health Organization estimates the world will be short 18 million health care workers by 2030, and the U.S. specifically is expected to be short between 54,000 and 139,000 physicians by 2033, according to the Association of American Medical Colleges.
So far, AMOpportunities’s software has provided more than 3,000 students rotations at 250-plus clinical sites, such as the University of Miami, MedStar Georgetown University Hospital and Florida International University. AMOpportunities makes money from fees it charges students for available rotations, as well as from fees it charges medical and nursing schools for recruitment, onboarding, development and clerkship management services.
Later this year, the company said it plans to further expand into clinical training for nursing students.
“AMO successfully navigated Covid-19, ending with a growth year due to exponential increases in demand from schools, hospitals and students that will only continue in the coming years,” Swinsky said in a statement.
Launched in 2013, AMOpportunities won UChicago's New Venture Challenge in 2017 when Swinsky was a student at the college's Booth School of Business.
