Trusted Health Secures $20 Million Series A Funding to Enhance Digital Career Platform for Nurses

On May 7, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Trusted Health announced the completion of a $20 million Series A financing round.

The funding round was led by Craft Ventures, with participation from Healthbox, Founder Collective, Felicis Ventures, and Abstract Ventures. Trusted Health will use the proceeds to optimize tools and resources for nurses, expand the variety and volume of job opportunities, and extend its employment services to all 50 U.S. states and the District of Columbia.

It is reported that Trusted Health previously completed three rounds of financing between 2017 and 2018, raising $4 million in its seed round led by Felicis Ventures.

Trusted Health, founded in 2017 and headquartered in San Francisco, has built a digital career platform that modernizes how nurses work, communicate, and grow. The platform enables nursing professionals to easily create resumes, manage credentials, and access real-time information and job opportunities. Currently, the company officially provides services to nurses seeking traditional employment across the United States.

By the end of the first quarter of 2019, Trusted Health’s operations had expanded to cover 20 states across the U.S. Each week, more than 1,000 new nurses joined the Trusted Health platform in search of job opportunities. In the first quarter of 2019 alone, the total compensation for jobs posted on the platform exceeded $60 million, and personalized match recommendations generated over 246,000 user clicks.

The Trusted Health platform streamlines the job application process by digitally storing and managing resumes, credentials, certifications, and other critical employee information. Its advanced, automated employment matching system aligns job openings with candidates’ qualifications, experience, and preferences, pushing suitable vacancies to job seekers in real time while providing comprehensive details on roles and compensation upfront, enabling them to make informed decisions.

Once candidates accept a position, Trusted Health becomes their employer. The platform integrates services such as contract signing, benefits administration, and hours tracking to provide nurses with W-2 employment contracts (including overtime pay, paid sick leave, insurance, and other benefits). Trusted Health also offers communication features where current nurses answer questions, facilitating the job application and onboarding processes while providing clinical and professional support along the way.

As a fully automated online employment agency, the company has reshaped the way modern nurses work by combining personalized support and a unique employment structure with an advanced digital employment platform. Using the Trusted Health platform, nurses have access to independent, trustworthy resources for professional growth, job opportunities, and solutions to any issues they may encounter.

Sarah Gray, founder of Trusted Health, stated, “Currently, more than half of hospitals are facing staffing shortages, and the number of vacancies for registered nurses is projected to reach one million by 2024. However, because these institutions have to rely on outdated and inefficient recruitment processes, nurses often fail to obtain ideal job information in a timely manner or even miss such opportunities altogether. Trusted Health helps nurses take greater control of their career development trajectories and achieve a more flexible work-life balance. We have created a community platform for modern healthcare professionals, enabling nurses to easily find rewarding jobs, connect with other professionals, and access W-2 employment security along with other features.”

“There is no doubt that the healthcare industry is at a critical juncture, facing rising patient demand and staffing challenges, and is in dire need of platforms like Trusted Health,” said Jeff Fluhr, Partner at Craft Ventures and Co-Founder of StubHub. “We are thrilled to support Trusted Health in becoming a dominant force in the healthcare employment sector.”

Healthbox is an innovation consulting and fund management services company that helps enterprises establish and advance their innovation strategies. The company develops innovation projects within enterprises, collaborates with caregivers, and evaluates the commercial potential of corporate projects. It also assists enterprises in seeking external project solutions or financing opportunities.

Felicis Ventures is a venture capital firm based in Menlo Park, California, USA. Felicis focuses on investing in outstanding companies that transform core markets and develop cutting-edge technologies. More than 60 of the companies invested in by Felicis have been acquired or gone public, including Rovio (IPO), Fitbit (IPO), Shopify (IPO), Meraki (acquired by Cisco), Twitch (acquired by Amazon), and Dropcam (acquired by Google).

(Compiled by Tang Lulu)