Overview

Patchwork Health operates in the healthcare staffing industry, focusing on improving how temporary staffing is managed. The company offers a digital platform that connects healthcare workers with flexible job opportunities, allowing them to select shifts that fit their personal schedules. For healthcare organizations, the platform provides tools to effectively manage staffing needs, ensuring they maintain safe and efficient staffing levels. Unlike traditional staffing methods, Patchwork Health uses technology to streamline the process, reducing stress and inefficiencies. The company generates revenue through a subscription model for healthcare organizations and transaction fees for each shift booked, creating a steady income while delivering value to both workers and organizations. Patchwork Health aims to address the growing demand for flexible staffing solutions in healthcare, positioning itself as a key player in this market.

Simplify's Take

What believers are saying

• Recent acquisition of L2P enhances Patchwork Health's workforce management capabilities.
• Series B funding of £20 million supports expansion into European markets.
• Growing demand for flexible staffing aligns with Patchwork Health's mission and services.

What critics are saying

• Integration challenges with L2P may disrupt operations if not managed well.
• Expansion into new markets exposes Patchwork Health to regulatory compliance risks.
• Economic downturns may pressure the subscription-based revenue model.

What makes Patchwork Health unique

• Patchwork Health offers a digital platform for flexible healthcare staffing solutions.
• The platform connects healthcare workers with shifts, optimizing staffing for organizations.
• Patchwork Health's dual revenue model includes subscriptions and transaction fees.

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Funding

Total Funding

$36.6M

Meets

Industry Average

Funded Over

3 Rounds

$26,400,000

Series B

Aug 2022

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Below Average

Industry standards

Ind Avg. $35M

$4M

$26.4M

$30M

$45M

$65M

$100M

View all funding stages