This morning German healthtech MEDWING, whose platform helps healthcare professionals find opportunities and solves staff shortages, announces having successfully closed its €28 million Series B financing round, led by Cathay Innovation, with participation from existing investors Northzone, Atlantic Labs, Cherry Ventures and Adevinta.
Founded in 2017, MEDWING’s mission is to make working in the healthcare sector more attractive and to solve the shortage of healthcare personnel. The Berlin-based company wants to empower healthcare candidates to work in a way that suits their individual lifestyles and to support hospitals and care facilities in recruiting and human resource management. This is achieved through the combination of innovative matching, communication technology and personal consultation.
According to the World Bank, the global shortage of health professionals is expected to rise to around 20 million by 2030. In Germany, according to a survey by the Ipsos Institute, 6 out of 10 Germans (61%) believe that the shortage of healthcare professionals is the main issue of the German healthcare system.
In short, the healthcare sector needs to better manage its existing personnel, avoid misplanning and increase transparency. This is where MEDWING comes in, offering digital solutions for this purpose and aiming to become the leading one stop shop for jobs in the healthcare sector.
So far MEDWING has more 200,000 professionals and 2,500 partner hospitals, nursing homes and medical practices registered Germany-wide, making it the largest personnel pool and the most modern job matching system for the European healthcare sector. Every month, the startup registers more than 15,000 new candidates, places over 100 health care experts in permanent positions and fills more than 2,000 individual shifts via its own platform all over Germany.
With the fresh funds, MEDWING will develop further its features, products and services, which are specifically aimed at health professionals, hospitals and care facilities. The capital will also be used to expand its international business and team of 200 employees from Germany, France and the UK, to more countries.
Johannes Roggendorf, founder and Managing Director at MEDWING: “Our goal is to address the global shortage of healthcare workers and to improve access to healthcare globally. Today, we have the technology to think and live healthcare completely differently – making it better for everyone. For example, we can balance work and family life for healthcare professionals in a way that no one needs to be stressed out anymore. We make it possible for well-trained nursing staff who give up their job after a few years and do something completely different to return to their actual calling. It is not acceptable that hospital wards have to be closed due to staff shortages. We solve these important societal challenges. A goal that we share with our investors.”
Jacky Abitbol, Partner at Cathay Innovation:“The digitalisation of work and digital health are among Cathay Innovation’s core investment themes. MEDWING stands exactly at this crossroad and it is therefore no coincidence that with the returning of Costanza Carissimo to Europe, we chose the company for our first investment in Germany. MEDWING’s platform has already brought positive changes to the recruitment, human resources management and care of many hospitals and institutions, especially highlighted during this covid-19 crisis. We strongly believe in Johannes and Timo’s vision and are excited to leverage our global platform to support them as they expand further across Europe.”
It’s also worth mentioning that MEDWING is also leading the charge pro bono in the fight against the coronavirus, by placing nurses, doctors and non-medical volunteers in hospitals, nursing homes and private households, as part of the initiative ‘WIR WOLLEN HELFEN’. With this nationwide initiative in Germany, the company is helping to reactivate the ‘hidden labour force’. Within a month, over 10,000 professionals and volunteers have already registered with the initiative.