Online medical training company Stepful collected $12 million in Series A funding.
Why it matters:Shortages of health care workers have continued to plague a health care system already strained by the COVID-19 pandemic.
Details: AlleyCorp Impact, the firm's social impact arm, led the round.
SemperVirens, Reach Capital, Y Combinator, Company Ventures, Green Sands Equity and 01 Advisors participated.
What's next: Funds will allow Stepful to expand its program offerings and ink new health care system partnerships.
CEO Carl Madi foresees Stepful collecting a Series B sometime in the next two years.
How it works: New York City-based Stepful offers programs targeted at people in underserved communities using a mobile-first approach that includes short videos, group projects, simulations and community learning modules.
Stepful has graduated 3,000+ students to date, per Madi, leading graduates to positions where they see an average 25% increase in income.
Its programs span training for medical assistants, pharmacy technicians, surgical technologists and licensed practical nurses.
The company also partners with health systems to help them fill open roles.
Flashback: Stepful last May raised a $7.5 million seed round, and Madi at the time predicted the company would collect a Series A in 2024.
Of note: Together with the funding, CommonSpirit SVP of talent acquisition Wanda Cole-Frieman and AlleyCorp Impact managing partner Tanya Beja join Stepful's board of directors. SemperVirens general partner Allison Baum Gates joins as board observer.
What they're saying: "Stepful fits our investment criteria like a glove," AlleyCorp's Beja tells Axios. "It's affordable and it meets people where they are."
State of play: Ongoing shortfalls of health care workers have kept venture investors' attention laser-focused on several companies looking to fill the gaps, including:
Iris Telehealth, a telepsychiatry staffing company that matches providers with clinics, in 2022 collected $40 million in Series B capital.
Health care career marketplace Incredible Health in 2022 pulled in $80 million in Series B funding at a $1.65 billion valuation.
Tech-enabled health care staffing company ShiftKey last January raised $300 million at a $2 billion valuation.