OnShift Closes $7 Million Series C Venture Financing
Cleveland, OH--OnShift, the leader in web-based staff scheduling and labor management software for the healthcare industry, today announced that it has closed $7 million in Series C financing. The round is led by new investor HLM Venture Partners and included participation from OnShift’s institutional investors Draper Triangle Ventures, Early Stage Partners, Fifth Third Capital, Glengary LLC, and West Capital Partners.
“We’re very excited to be working with the team at OnShift and believe the market opportunity is significant. With the help of OnShift, customers dramatically reduce overtime, save time scheduling and handling employee call-offs, and improve their staffing levels,” stated Marty Felsenthal, Partner, HLM Venture Partners. “HLM Venture Partners enjoys deep industry relationships with both national chains and independent operators in senior care, and we’re excited to leverage those relationships to help OnShift penetrate the market even further.”
OnShift has experienced tremendous growth, increasing its customer base to over 1,000 sites during the past year. The investment will be used to accelerate OnShift’s research and development plans and increase its presence in the healthcare market through sales and marketing.
Market demand for OnShift has been driven by the critical need for long-term care and senior living providers to reduce costs and operate efficiently. Medicare and Medicaid reimbursement cuts and new health coverage requirements in the Affordable Care Act are causing providers to focus on their number one expense — labor. With the help of OnShift’s SaaS and mobile solutions, providers can control labor costs by managing overtime, fill shifts efficiently, and staff properly to deliver the highest quality care. Read more...
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Jonathan Murray serves, with pleasure, on the OnShift board