Incredible Health Secures $15 Million Series A Funding to Tackle U.S. Healthcare Labor Crisis

On September 13, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Incredible Health, a healthcare recruitment platform headquartered in San Francisco, California, USA, had completed a $15 million Series A financing round.

This round of financing was led by Andreessen Horowitz, with participation from NFX, Obvious Ventures, and Precursor Ventures.

Incredible Health plans to use the proceeds from this financing round to accelerate the nationwide expansion of its platform across the United States and to provide a genuine community for healthcare professionals, helping them reimagine their career paths.

By 2024, the United States will face its largest employment crisis to date—a shortage of 1 million nurses. This shortfall will impose severe financial losses on hospitals: contract nurses cost 1.5 to 2 times more than permanent staff. More importantly, this model of care delivery compromises care quality and jeopardizes patient safety.

Incredible Health was founded in 2017 by Dr. Iman Abuzeid (CEO) and MIT alumnus Roman Portlock (CTO). The company pioneered a custom matching algorithm that enables hospitals to align their needs with qualified professional nursing staff. This unique approach helps nurses secure long-term positions in a shorter timeframe.

Jeff Jordan, Managing Partner at Andreessen Horowitz, stated: “Incredible Health has established a robust two-sided marketplace that connects high-caliber healthcare professionals with high-quality job opportunities. This is critical to the U.S. healthcare system, as the shortage of nurses in the United States is even more severe than the shortage of engineers. I believe that the platform built by Incredible Health will enable nurses to secure longer-term positions and facilitate a more equitable distribution of workforce resources.”

Andreessen Horowitz is a private venture capital firm based in Silicon Valley, United States, founded by Marc Lowell Andreessen and Ben Horowitz in 2009. The company is headquartered in Menlo Park, California. Currently, Andreessen Horowitz manages $2.7 billion in assets, focusing on investments in social media businesses and the technology sector, with particular emphasis on software, backend infrastructure, internet infrastructure, cloud computing, enterprise software and services, commercial internet, mobile internet, biotechnology, and medical companies.

NFX is a venture capital firm headquartered in San Francisco, USA, specializing in investments in seed-stage and Series A startups.

Obvious Ventures is an early-stage venture capital firm headquartered in Silicon Valley.

Precursor Ventures is an early-stage venture capital firm that focuses on investing in seed-stage companies in major metropolitan areas such as San Francisco, New York, Toronto, and Los Angeles. The firm specializes in investments in B2B and B2C software applications and hardware sectors.

(Compiled by: Tian Shuhang)