US-based workforce management platform developer IntelyCare closed a $45m series B round yesterday backed by Kaiser Permanente Ventures, the corporate venture capital arm of managed care consortium Kaiser Permanente.
Private equity firm Endeavor Vision led the round, which also featured investment platform Generator Ventures. The company has now raised $59m altogether.
IntelyCare provides software that uses machine learning to help post-acute facilities such as hospitals and rehab clinics, enabling them to predict and manage staffing needs, price shifts accordingly and allow nursing professionals to take up flexible, on-demand work.
The series B capital will support the further development of IntelyCare’s data science technology. It had received $10.8m in a November 2018 series A round led by Leerink Revelation Partners that included Longmeadow Capital, LRVHealth and angel investor Bill Mantzoukas.
The company confirmed at the time of its series A round that it had previously raised a total of $3.2m in funding, naming LRVHealth as an existing backer. A regulatory filing states IntelyCare secured $3m in debt financing in 2017.
Sam Brasch, senior managing director and vice-president of Kaiser Permanente Ventures, said: “With rising rates of chronic conditions and an aging population, there is a critical need for new technologies to support the post-acute care workforce.
“IntelyCare’s approach augments available nurses to help overcome these complex challenges, reduce burnout and attrition and drive greater patient care.”
