Endeavour Vision leads investment in Intelycare’s artificial intelligence-driven nurse staffing platform, to support the next phase of the company’s growth
Geneva, February 20, 2020 – Endeavour Vision led the Series B funding round for Boston-based IntelyCare, along with Kaiser Permanente Ventures and Generator Ventures, allowing the company to raise $45 million in new equity and debt financing.
With aging populations and an increase in chronic diseases, more people need acute and chronic care management. At the same time, the number of nurses in the workforce is decreasing. Research indicates that by 2030, one million nurses will retire in the U.S. while an increasing number are leaving the profession due to overtime demands and burnout. These factors combined are increasing the strain on the healthcare system and the demand for nurses.
IntelyCare has developed a proven and highly efficient solution that allows more nurses to be part of the workforce by supporting a flexible schedule around their personal and family commitments. IntelyCare also brings a benefit to post-acute care facilities, which would otherwise be short-staffed and in some cases, penalised due to gaps in delivering care for their patients.
The company’s platform is today used by over 400 facilities and over 11,000 nurses and has helped facilities staff 2,000,000 hours of what would have been a gap in care.
“As an investor in innovative medical and digital health technologies, we look for companies with disruptive solutions to the challenges facing today’s healthcare system,” said Rob Barmann, Senior Investment Director at Endeavour Vision. “IntelyCare’s rapid and significant growth demonstrates the value it is bringing to the nursing sector. With a unique technology and an experienced team, the company is well-positioned to develop further, and we are proud to support it in its next phase of growth.”
About Endeavour Vision
Endeavour Vision is a leading private equity firm investing in growth-stage medtech and digital health companies. We invest in disruptive technologies that address major unmet needs and that provide superior clinical benefits for patients or bring significant efficiencies for healthcare systems. Endeavour Vision’s team brings strategic and operational experience in building medtech and digital health businesses, a successful track record, together with the capital to support the transition of R&D organisations into successful clinical and commercial operations. Our company headquarters are in Geneva, Switzerland, with further presence in North America.
IntelyCare offers a digital workforce augmentation platform that combines a gig-model application with advanced data science to optimize staff resources and close the widening gap between workforce supply and demand. IntelyCare is revolutionising the antiquated healthcare staffing market, filling nursing shifts at three times the industry average and giving post-acute facilities the tools to predict and manage staffing needs. The company’s engaging mobile app empowers healthcare workers with access to flexible, on-demand work opportunities, reducing burnout and attrition while increasing productivity. For more information, visit www.IntelyCare.com.