OnShift Secures Additional Series A Funding

OnShift Secures Additional Series A Funding

12/06/2010

Cleveland, OH--OnShift, Inc., a leading provider of staff scheduling and shift management software for the healthcare industry, today announced that it has closed a $2.3 million early stage venture capital investment, an extension of the Series A investment led last year by Early Stage Partners. New investors in the current round included Draper Triangle Ventures of Pittsburgh. All existing OnShift institutional investors joined this round of funding, including Early Stage Partners, JumpStart Inc., North Coast Angel Fund, LLC, and Glengary LLC.

The early stage venture capital investment will be used to accelerate OnShift’s sales and marketing efforts and increase its market share in the healthcare industry. OnShift is experiencing significant business growth, with customer acquisition increasing more than 500% year-over-year.

Jonathan Murray, Managing Director of Early Stage Partners, stated, “Under the leadership of a strong CEO, Mark Woodka, OnShift has consistently delivered shareholder value by acquiring and serving customers and is on a significant growth trajectory. We are pleased to continue supporting OnShift with additional capital.”

Long-term care companies and other healthcare organizations use OnShift’s web-based staff scheduling software to reduce labor costs by preventing overtime, mitigate regulatory risk, and improve efficiencies through automated scheduling and open shift management. This saves time and frees up nurses so they can focus on providing quality resident care. Customers are up and running quickly with OnShift’s SaaS (Software as a Service) deployment model, and typically experience ROI within the first few weeks of implementation.

“This funding validates OnShift’s achievements in the healthcare industry. Our market presence, customer growth and successful implementations will continue on an even greater scale with this investment,” said Mark Woodka, CEO of OnShift. “We are excited to partner with Draper Triangle Ventures as well as receive continued support from our existing investors to accelerate our growth and continue to give healthcare organizations an innovative and easy-to-use solution to some of their most pressing labor management challenges.”

 

Find Out More About ESP

Staff Photo

Early Stage Partners Managing Director Jonathan Murray serves on the OnShift board.