European healthcare recruitment startup company Medwing has raised €44 million ($47 million U.S.) in a Series C funding round.
Medwing was founded in Berlin in 2017 and mainly operates in Germany and The U.K. It offers digital HR management tools for the healthcare sector. It targets customers using a platform designed to connect hospitals and clinics with nurses and older care providers. It also caters to pharmacists, doctors, midwives and other healthcare professionals.
It has around 5,500 registered medical employers and 500,000 healthcare professionals who are able to access a digital workflow covering job search, contracts, signatures and timesheets. Its platform promotes a pool of candidates, has a candidate matching system and a tool for scheduling interviews and individual shifts. It also offers career consultation for healthcare workers.
It aims to differentiate itself by focusing on both temporary and permanent placements. It works with major healthcare staffing providers but also traditional recruitment agencies who want to advertise their own temporary staff on its platform, which, the company says, allows it to fill 75% of all its temporary work requests within one or two days.
“The current permanent recruiting and temporary staffing market in healthcare is broken and still very manual and analogue,” said Medwing founder and CEO Johannes Roggendorf. “Bringing this to a digital marketplace will not only save costs for the healthcare system overall but also increase the service levels for healthcare workers and hospitals. “Our technology helps to provide superior, faster, yet personalised job matches.”
In its previous two funding rounds, Medwing has raised around €43 million. With the new funding it plans to eventually expand further into other European markets. Prior to this it anticipates becoming profitable by the end of this year, based on its business levels in Germany and the U.K.
This funding round included contributions from Northzone, Cathay Innovation, Cherry Ventures, Quadrille Capital, Atlantic Labs, Hambro Perks and despite its well-publicised problems, SVB Capital, the VC entity of Silicon Valley Bank.