Staff-focused Senior Care Tech Platform ShiftKey Raises $300M With Growth Aimed

ShiftKey, a technology platform that connects older caregivers looking for work with employers, has received a new $300 million cash injection that will propel the firm into its next phase of growth.

Based in Dallas, Texas, ShiftKey offers a platform where licensed healthcare professionals, including registered nurses, certified paramedics, and clinicians, can search and work on open shifts in skilled nursing facilities, senior communities, clinics, and hospitals. Users can select opportunities based on a range of desired factors such as performance level or location.

Axios was the first to report this on Wednesday.

Other tech companies have also worked to simplify HR by bringing workers and communities together, including Kare, which launched in 2019, though ShiftKey’s business model differs in revenue structure and other factors.

In June, ShiftKey invested in senior housing and care company OnShift to address current senior employment challenges and reduce the use of third-party recruitment agencies.

Partnering with OnShift is already paying off, Ellis says, allowing employers to improve operations in a number of ways, from reducing time spent on HR issues and increasing time spent on patient care, to better managing costs.

“This is a powerful tool that we believe will take the industry to new levels of efficiency,” Ellis told Senior Housing News.

Today, nearly three-quarters of ShiftKey’s customer base is made up of skilled nurse operators, of which just under a quarter are seniors and the rest are medical professionals.

Major investor Lorient Capital led the latest funding round, which was completed in partnership with Ares Management Secondaries and Pantheon. Additional supporters included Clearlake Capital and Health Velocity Capital, Ellis told Senior Housing News.

With the latest funding, the company is now valued at more than $2 billion, ShiftKey CEO Tom Ellis told Senior Housing News.

Ellis said ShiftKey’s scalability “transcends healthcare and is poised to revolutionize the entire licensed professional workforce.”

“As ShiftKey continues to grow, we are focused on giving businesses the tools, data, and access to independent professionals to run businesses at scale and lighten their current workforce,” Ellis said.

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