Funding rounds: ShiftMed, Stride, GrubMarket

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http://www2.staffingindustry.com/site/Editorial/Daily-News/Funding-rounds-ShiftMed-Stride-GrubMarket-59530

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October 27, 2021

ShiftMed announced a $45 million funding round while gig economy benefits firm Stride reported a $47 million round. GrubMarket, which includes staffing among several other business lines, announced a $145 million round.

ShiftMed

ShiftMed, a talent platform focused on healthcare staffing, announced a $45 million funding round today. It was led by healthcare investors Panoramic Ventures and Healthworx.

“Healthcare companies leveraged ShiftMed to care for more than 200,000 patients in Q3 2021,” said Paul Iaffaldano, general partner at Panoramic Ventures. “We believe the company has the scale to be an important player in the healthcare space.”

Iaffaldano also noted ShiftMed has relationships with more than 700 enterprise partners including hospitals, skilled nursing facilities, home health and assisted living providers.

ShiftMed reported it has hired more than 10,000 nurses so far this year and provided more than 1 million hours of care. The company serves 56 markets in the US. It’s based in McLean, Virginia.

Along with Panoramic and Healthworx, existing investors also took part in the round. They included Blue Heron Capital, Motley Fool Ventures and 3TS Capital Partners.

Stride Health

Stride Health, a provider of benefits for independent contractors, announced a $47 million Series C funding round. It brings total funding at the company to $96 million.

Stride has partnerships with more than 120 companies — including Uber, DoorDash, Instacart and Grubhub — to bring benefits to gig workers. Stride noted its independent contractor membership rose to 2.7 million in the first eight months of this year.

King River Capital led the round with participation from Mastercard and Allstate.

Stride also announced two new board members: Megan Guy, general partner and co-founder of King River Capital, and Opeyemi Oluwole, senior VP of consumer engagement at Teladoc, who previously held executive roles at American Express and Citi.

Existing investors taking part in the round included Venrock, NEA, Fidelity’s F-Prime Capital and Moderne Ventures.

GrubMarket

GrubMarket, a San Francisco-based food technology company that provides staffing as part of its services, announced a $145 million Series E funding round from funds and accounts managed by BlackRock, Liberty Street Funds, Japan Post Capital and others. It values the company at more than $1 billion.

GrubMarket’s customers include grocery stores, restaurants, offices, online food delivery companies, farms and consumers.

It describes itself as one of the largest providers of South American fruits in the US, a farm staffing and payroll services provider on the West Coast, and a community-supported agriculture software provider for American farms. It operates from more than 40 warehouses across North America.

http://www2.staffingindustry.com/site/Editorial/Daily-News/Funding-rounds-ShiftMed-Stride-GrubMarket-59530

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