medwingA European startup creating a recruitment marketplace for healthcare workers, has raised €44 million ($47 million) in a Series C funding round.
Founded in Berlin in 2017, Medwing targets the healthcare industry in Germany and the UK with a platform designed to unite hospitals and clinics with nurses and elderly carers, while also serving pharmacists, midwives, doctors and similar professionals.
The platform is currently available in Germany and the UK, where it has some 5,500 registered medical employers and 500,000 healthcare professionals, who can access a fully digital workflow covering job search, contracts, signatures and sheets. of time.
“The current market for permanent and temporary recruitment in healthcare is broken and remains very manual and analog,” Medwing founder and CEO Johannes Roggendorf told TechCrunch. “Bringing this to a digital marketplace will not only save costs for the overall healthcare system, but also increase service levels for healthcare workers and hospitals.”
The Medwing Platform
healthy sector
A quick look at the competitive landscape reveals a host of similar players, particularly in the US, where ShiftMed recently raised $200 million; nomad health secured $105 million; Incredible Health got $80 million; and Vivian Health raised $60 million.
Meanwhile, in Europe, UK-based Florence last year raised $35 millionwhile France Hublo has attracted cash from venture capital for a similar market concept.
Medwing, for his part, says he intends to set himself apart from other players with a focus on both permanent and temporary placements. In addition, while working directly with major healthcare clients such as the Berlin-based university hospital Charityit also supports traditional recruitment agencies looking to market their own temporary staff on its platform.
“This allows us to have a 75 percent fill rate of all temporary requests within a day or two,” Roggendorf said.
Before now, Medwing had raised around €43 million in a couple of rounds.. With another $47 million in the bank, the company said it is considering expanding into more European markets in the future, but in the near term it expects to reach profitability by the end of this year based solely on its existing presence in Germany and the UK.
“For now, we are focused on those two countries, but we plan to expand to other European countries to become the leading healthcare job market in Europe,” Roggendorf said. “But in the end, this is a global problem that we are solving.”
Medwing’s Series C round included contributions from Northzone, Cathay Innovation, Cherry Ventures, Quadrille Capital, Atlantic Labs, Hambro Perks and, interestingly, given the Silicon Valley Bank (SVB) fiasco over the past week, SVB Capital, SVB’s venture capital firm. .
SVB Capital is not directly affected by the collapsed bank, although its joint parent SVB Financial is apparently in the process of selling off its assets, including SVB Capital. However, we’re told none of that affects your cash outlay to Medwing.
