ShiftKey, a tech platform that connects senior care professionals looking for work with employers, has a new $300 million cash infusion that will move the firm forward towards its next phase of growth.
Dallas, Texas-based ShiftKey offers a platform where licensed health care staff including registered nurses, certified medical assistants and clinicians can search for and take open shifts at skilled nursing facilities, senior living communities, clinics and hospitals. Users can select opportunities based on a number of desired factors such as job level or location.
Axios was first to report on the news Wednesday.
Other tech companies have also worked similarly to ease staffing challenges by connecting workers and communities, including Kare, which launched in 2019, although ShiftKey’s business model is different by way of its revenue structure and other factors.
In June, ShiftKey made an investment in senior housing and care workforce company OnShift with a goal of addressing current senior living industry labor issues and reducing the use of third-party staffing agencies.
With its relationship with OnShift, ShiftKey CEO Tom Ellis said the partnership was already paying off by allowing employers to improve operations in multiple ways, from spending less time on staffing issues and more time on patient care to more closely managing costs.
“It’s a powerful tool that we believe will bring the industry to a new level of efficiency,” Ellis told Senior Housing News.
Today, nearly three-fourths of ShiftKey’s client base consists of skilled nursing operators, with just under a quarter in senior living and the rest in health care.
Majority investor Lorient Capital led the most recent funding round, which was completed in coordination with the Ares Management Secondaries fund and Pantheon. Additional backers included Clearlake Capital and Health Velocity Capital, Ellis told Senior Housing News.
With the latest funding, the company is now valued at over $2 billion, Ellis told Senior Housing News.
Ellis said ShiftKey’s scalability “transcends healthcare and is poised to revolutionize the entire licensed professional workforce.”
“As ShiftKey continues to grow, we’re focused on providing businesses with the tools, data and access to independent professionals to run their businesses at scale and provide relief for their current workforce,” Ellis said.