HCAP Partners Invests in FleetNurse to Support Rapid Growth in Nurse Staffing Market
Funding will help the company accelerate growth in new and existing markets and bring enhanced functionality to the FleetNurse technology platform
SAN DIEGO, CA (May 10, 2022) – HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced its investment in FleetNurse, a leading provider of innovative on-demand healthcare staffing solutions. In addition, the firm announced that Nicolas Lopez, Principal at HCAP, will join FleetNurse’s board of directors. Terms of the investment were not disclosed.
FleetNurse’s software platform connects healthcare professionals directly to healthcare facilities that need to staff shifts on short notice. Healthcare administrators can use FleetNurse’s service as a key workflow automation component to broadcast available shifts to a large pool of credentialed healthcare workers, allowing facilities to fill shifts within an hour's notice. For healthcare workers, FleetNurse’s user-friendly mobile technology enables greater control over their schedules.
The growing imbalance between supply and demand for nurse labor has fueled the company's rapid growth, resulting in its revenues increasing more than threefold in 2021. HCAP Partners' investment will support the company’s team buildout and fund further enhancements to the company’s technology offerings.
"FleetNurse has become a trusted partner for on-demand nurse staffing solutions," commented Nicolas Lopez, Principal at HCAP Partners. "Using the same technology that disrupted and optimized ride sharing, vacation rentals, and many other segments of the modern economy, the company has created a powerful software solution to efficiently match high-quality nurses to facilities in both the acute and post-acute markets."
"FleetNurse is leveraging industry-leading technology to meet healthcare’s complex staffing needs while also empowering nurses with greater flexibility and control over their schedules," stated Israel Angeles, FleetNurse CEO. "With HCAP Partners’ funding and support, we will accelerate that growth to become the top tech platform for workforce management for healthcare facilities and a powerful tool for healthcare workers that supports a more sustainable work-life balance."
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 50 companies since its founding and through ongoing, active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund nine years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities. For more information, please visit http://www.hcap.com/.
About FleetNurse
FleetNurse was founded in 2019 with a mission to use gig economy technology to efficiently provide on-demand, qualified, credentialed healthcare professionals to fill open, critical shifts at healthcare facilities. Its solutions improve staffing levels and reduce staffing-related costs for such facilities while providing nurses and nursing assistants unprecedented flexibility in their work lives. Learn more at https://www.fleetnurse.com/.
