Medwing, a recruitment marketplace for Europe’s healthcare workforce, raises $47M
MedwingA European startup establishing a recruitment market for healthcare employees has raised €44 million ($47 million) in a Sequence C funding spherical.
Based in Berlin in 2017, Medwing targets the healthcare business in Germany and the UK with a platform designed to match hospitals and clinics with nurses and aged caregivers, but additionally caters to professionals like pharmacists, midwives, docs and extra.
The platform is at the moment obtainable in Germany and the UK, the place it requests round 5,500 registered medical employers and 500,000 healthcare professionals with entry to an all-digital workflow masking job search, contracts, signatures and timelines.
“The present marketplace for everlasting rent and short-term staffing in healthcare is damaged and nonetheless very guide and analogue,” Medwing founder and CEO Johannes Roggendorf advised TechCrunch. “Shifting this to a digital market won’t solely save prices for the healthcare system basically, however can even improve service ranges for healthcare professionals and hospitals.”
A fast have a look at the aggressive panorama reveals a variety of related gamers, notably within the US, the place the likes of ShiftMed have not too long ago raised $200 million; nomadic well being $105 million guaranteed; Unimaginable Well being obtained $80 million; and Vivian Well being earned $60 million.
In Europe, final yr, England-based Florence raised $35 millionif france Hublo, VC cashed out for the same market idea.
Medwing says it goals to distinguish itself from different gamers by specializing in each everlasting and short-term placements. Additionally, when working instantly with main healthcare purchasers such because the Berlin-based college hospital charterIt additionally helps conventional recruitment businesses that wish to market their short-term workers on their platform.
“This enables us to have a 75 p.c protection fee of all short-term requests inside a day or two,” Roggendorf mentioned.
To this point, Medwing has raised round €43 million in a number of rounds.. The corporate, which has one other $47 million within the financial institution, mentioned it goals to broaden into European markets sooner or later, however expects to succeed in profitability by the top of this yr, relying solely on its present presence in Germany and the UK within the close to time period.
“For now, we’re centered on these two international locations, however we plan to broaden to different European international locations as effectively, changing into Europe’s main healthcare market,” mentioned Roggendorf. “However finally it is a international drawback we’re fixing.”
Contributions from Northzone, Cathay Innovation, Cherry Ventures, Quadrille Capital, Atlantic Labs, Hambro Perks and SVB Capital, SVB’s VC startup, which is considerably fascinating given final week’s Silicon Valley Financial institution (SVB) fiasco, in Medwing’s Sequence C spherical happened. .
SVB Capital is just not instantly affected by the collapsed financial institution, however the mother or father firm of the joint SVB Monetary holding firm is seemingly within the technique of promoting its property, together with SVB Capital. We had been advised that none of this had an impression on the money outlay on Medwing.
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