What is connectRN?
connectRN is revolutionizing the way nurses and other healthcare professionals find employment. By harnessing technology, the platform bridges the gap between clinicians seeking flexible work and healthcare facilities facing staffing shortages. connectRN provides essential career development resources and flexible shift options for nurses, while simultaneously offering a solution for healthcare providers to alleviate critical staffing needs. Headquartered in Waltham, Massachusetts, the company extends its services to clinicians across the United States, positioning itself as a leader in the healthcare staffing technology sector.
How much funding has connectRN raised?
connectRN has raised a total of $94.4M across 5 funding rounds:
Private Equity
$500K
Debt
$2.5M
Debt
$2M
Stock Offering
$13.4M
Unspecified
$76M
Private Equity (2016): $500K, investors not publicly disclosed
Debt (2017): $2.5M, investors not publicly disclosed
Debt (2020): $2M supported by PPP
Stock Issuance/Offering (2021): $13.4M, investors not publicly disclosed
Unspecified (2021): $76M backed by Adage Capital Management, Suvretta Capital Management, Avidity Partners, and Infinitum Asset Management
Key Investors in connectRN
Adage Capital Management
Adage Capital Management is a money management firm primarily focused on S&P 500 assets. Adage is headquartered in Boston, Massachusetts.
Suvretta Capital Management
Suvretta Capital Management, LLC operates as an investment management company. The Company offers capital management, financial planning, and advisory services. Suvretta Capital Management serves customers in the State of New York.
Avidity Partners
Avidity Partners, LLC specializes in post confirmation Chapter 11 Trustee services, including liquidation and litigation trusts responsible for claims reconciliation and resolution, distribution of assets to creditors, prosecution of preference and avoidance actions and claims against insiders and third parties. Avidity Partners handles all aspects of §363 and other assets sales, asset management, post-sale transactions and corporate dissolutions. Avidity Partners has distributed over two billion dollars to creditors in the last five years.
What's next for connectRN?
With the recent major strategic investment, connectRN is poised for significant expansion and enhancement of its platform. The substantial capital infusion, part of its $94.4M in total financing, suggests a strategic focus on scaling operations, broadening its service offerings, and potentially exploring new market segments within the healthcare industry. This backing indicates strong investor confidence in connectRN's business model and its capacity to address persistent staffing challenges in healthcare. Future developments are likely to include technological advancements to further optimize the matching process between healthcare professionals and facilities, alongside initiatives to strengthen the community and support network for its users.
See full connectRN company page
