Clipboard Health, a startup with an on-demand staffing platform for the healthcare sector, today announced that it has raised $80 million in funding.

The funding was raised over two rounds: a $50 million round in 2021 and a $30 million investment that Clipboard Health closed earlier this year. The latter investment, which was led by Sequoia Capital, valued the startup at $1.3 billion.

Clipboard Health also counts other prominent tech investors besides Sequoia among its backers. The earlier $50 million round that the startup closed in 2021 was led by IVP. Y Combinator, Caffeinated Capital, Initialized Capital and SciFi VC have invested in the startup as well.

Clipboard Health provides an app through which nurses and other healthcare professionals can find available shifts at nearby healthcare facilities. There is no minimum number of hours or shift count that users are required to book. Clipboard Health says its platform enables nurses to work in a flexible way that’s more closely aligned with their schedules.

For healthcare organizations, meanwhile, the startup’s platform promises to ease the task of recruiting workers amid the sector’s ongoing talent shortages. According to data from the U.S. Bureau of Labor Statistics, 450,000 workers left the healthcare sector between February 2020 and November 2021.

“The average nurse uses the Clipboard app for 10 shifts every month, most work at more than three facilities, and many have moved to the platform full-time,” Sequoia partners Bryan Schreier and Kais Khimji wrote in a blog post today. “It is clear to us that Clipboard is restructuring the labor market in one of the world’s largest industries. This has enormous — and thankfully, positive — implications for health care providers, companies and patients.”

Clipboard Health has made its platform available in more than 30 U.S. cities since launching. More than a thousand healthcare facilities and tens of thousands of healthcare professionals use the platform. The startup told TechCrunch that its gross revenue jumped by a factor of 25 in the past 18 months, but didn’t share absolute numbers.

Following the newly announced funding, Clipboard Health plans to make its platform available in more locations. The startup will expand its engineering, sales and marketing teams to support the growth effort.

The amount of venture funding raised by healthcare startups has increased significantly over the last few quarters. It’s estimated that healthcare startups raised more than $21.3 billion from investors in 2021, up from $14.6 billion a year ago. Merger and acquisition activity increased as well last year. 

Image: Clipboard Health