Nomad Health, which offers an online job portal for temporary healthcare workers, announced it has secured $22 million.

HealthQuest Capital led the round, with participation from Icon Ventures, Adams Street, .406 Ventures, RRE Ventures and Polaris Partners. 

The company also announced it has appointed Justin Lambert as its new CEO, replacing former CEO Dr. Alexi Gharib Nazem, who cofounded the company and has led as its CEO since 2015. Nazem will remain on Nomad's board of directors. 

Lambert formerly served as Nomad's president and chief operating officer. The company's senior vice president of operations, Justine Lelchuk, will take Lambert's place as COO. 

WHAT IT DOES

Nomad provides a staffing marketplace for temporary workers, allowing users to search for job openings nationwide, search by pay and specialty, apply for positions and manage their resumes.  

The New York-based company will use the funds to expand its product portfolio.

“For nearly a decade, Nomad has been spearheading the next generation of healthcare staffing with the introduction of new technology and unprecedented promises of transparency and efficiency,” Lambert said in a statement. 

“I am grateful and excited to be appointed CEO by our board and to have the opportunity to help Nomad bring its novel approach and leading technology to more people in more ways.”

MARKET SNAPSHOT

In 2021, Nomad secured $63 million in new equity and debt financing, and, a year later, it scored a whopping $105 million in financing, bringing its total raise to more than $200 million. 

Last year, the company laid off 17% of its workforce. A company spokesperson told MobiHealthNews that the layoffs were needed to realign its staffing to match the fluid activity in the post-pandemic market. 

Other companies working to address staffing shortages in healthcare include Virginia-based ShiftMed, which connects nurses with available shifts at healthcare facilities. Last year, the company scored $200 million in funding.

ShiftKey is a startup that connects healthcare workers and facilities with open shifts. Last year, it raised $300 million, bringing its valuation to more than $2 billion.

In 2022, nurse-staffing marketplace Incredible Health scooped up $80 million in Series B funding, boosting its valuation to $1.65 billion, and healthcare-staffing marketplace Clipboard Health announced it had raised $80 million across two funding rounds, bringing its valuation to $1.3 billion.