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Medwing, a European startup creating a recruitment marketplace for healthcare workers, has raised €44 million ($47 million) in a Series C round of funding.
Founded out of Berlin in 2017, Medwing targets the healthcare sector in Germany and the U.K. with a platform made to match hospitals and clinics with nurses and elderly caregivers, although it also caters to pharmacists, midwives, medical doctors, and equivalent pros.
The platform is presently obtainable in Germany and the U.K., exactly where it claims some five,500 registered healthcare employers and 500,000 healthcare pros, who can access an totally digital workflow spanning job search, contracts, signatures, and timesheets.
“The existing permanent recruiting and short-term staffing industry in healthcare is broken and nevertheless pretty manual and analogue,” Medwing founder and CEO Johannes Roggendorf explained to TechCrunch. “Bringing this to a digital marketplace will not only save expenses for the healthcare method general but also enhance the service levels for healthcare workers and hospitals.”
A fast peek across the competitive landscape reveals a slew of equivalent players, especially in the U.S. exactly where the likes of ShiftMed lately raised $200 million Nomad Wellness secured $105 million Extraordinary Wellness nabbed $80 million and Vivian Wellness drew in $60 million.
In Europe, meanwhile, U.K.-primarily based Florence final year raised $35 million, whilst France’s Hublo has attracted VC money for a equivalent marketplace idea.
Medwing, for its element, says its setting out to differentiate from other players with a concentrate on each permanent and short-term placements. In addition, whilst it performs straight with big healthcare clientele such as Berlin-primarily based university hospital Charité, it also supports regular recruitment agencies searching to industry their personal short-term employees on its platform.
“This enables us to have a 75 % fill-price of all short-term requests inside one particular or two days,” Roggendorf stated.
Prior to now, Medwing had raised about €43 million more than a couple of rounds. With one more $47 million in the bank, the firm stated that it is eyeing expansion to additional European markets down the line, but in the nearer term it expects to attain profitability by the finish of this year primarily based purely on its current presence in Germany and the U.K.
“For now, we are focused on these two nations but program to expand to other European nations to come to be the top healthcare job marketplace in Europe,” Roggendorf stated. “But in the finish, this is a international challenge we are solving.”
Medwing’s Series C round incorporated contributions from Northzone, Cathay Innovation, Cherry Ventures, Quadrille Capital, Atlantic Labs, Hambro Perks and — somewhat interestingly, offered the Silicon Valley Bank (SVB) fiasco more than the previous week — SVB Capital, the VC entity of SVB.
SVB Capital is not straight impacted by the collapsed bank, although their shared SVB Economic holding firm parent is apparently in the approach of promoting its assets, like SVB Capital. We’re told that none of that impacts its money outlay to Medwing although.