Trust Nursing Startup Receives Nearly $ 150 Million In New Funding

Trust, Inc., a health personnel the platform has raised $ 149 million in new funding, according to a press release Thursday.

The funding includes two funding rounds, including a $ 94 million Series C round led by Greenspring Associates, now part of the StepStone Group, and a previously unannounced $ 55 million Series B round led by Craft Ventures and Felicis Ventures. In total, the company raised $ 175 million.

Trust will use the new money to launch its Works Clinical Staff platform and recruit new staff. By the end of next year, the company plans to double its headcount.

It introduces Works as a data-driven platform that enables hospitals to create a cadre of nurses on demand by identifying and managing hired and contracted nurses based on real-time information.

“Once the right resource has been selected, Works manages the entire employee lifecycle, from managing the onboarding and attestation process to monitoring compliance and managing payments,” the press release said.

According to Modern Healthcare, virtual platforms that automatically recruit employers and healthcare professionals are becoming a common alternative to traditional recruitment and hiring.

These digital marketplaces boast a faster, more cost-effective system that allows qualified candidates to find the position they are best suited for, and employers do not have to spend hours searching for candidates who are not suitable.

They arise at a time when the industry is struggling to find and retain staff.

As a result of the pandemic, 80% of nursing executives reported an increase in nurse turnover. According to Incredible Health’s 2021 study, demand for intensive care and emergency nurses has grown by 186% over the past year.

Many employers are facing higher costs in the fight to reduce the vacancy rate by hiring temporary workers and are hiring employees, stimulating work in any way possible.

Other startups are focused on curbing demand for more doctors by helping them use their time more efficiently. Notably, a startup automating the workflow for healthcare professionals raised $ 100 million in additional funding earlier this month.

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