Health Velocity Capital led the round, which also includes participation from OnShift’s existing institutional investors Draper Triangle Ventures, Early Stage Partners, Fifth Third Capital, HLM Venture Partners, North Coast Venture Fund and West Capital Advisors.
Marty Felsenthal, managing member of Health Velocity Capital, said in a statement, “We believe this capital will allow OnShift to accelerate market penetration and rapidly scale the development of new and innovative SaaS (software as a service) products in human capital management.”
He said OnShift “has developed a dominant position in scheduling and labor management within the senior care market, serving thousands of skilled nursing and senior living communities.”
Mark Woodka, CEO of OnShift, said the investment “reinforces our commitment to alleviate the burdens of staffing and labor management while accelerating our plans to expand in the senior care market.”
OnShift at present has 128 people on staff, and it plans to add 60 more this year, including 40-50 in the next two quarters, according to information provided to Crain’s by Marti Bowman, the company’s vice president of marketing. Bowman said in the email that OnShift to date has received $33.5 million in equity capital.
Read the full story at Crain’s Cleveland Business.