Healthcare scheduling software developer OnShift will double down on a new state loan and expansion plans with a new round of private fund-raising.
A regulatory document said the company has raised $4.5 million in equity, though the company says that number is inaccurate for the current round. OnShift is expected to formally announce its fund-raise on Thursday.
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OnShift CEO Mark Woodka told MedCity News earlier this week that the company was seeking to hire 20 to 25 workers this year, up from its current 36 employees. Most new hires will be programmers, as well as sales and marketing workers. Earlier in the week, OnShift was awarded a $512,000 loan from the state of Ohio.
The company is also looking to make several enhancements to its scheduling software, Woodka said.
It’s likely the latest round of investment will fund the company’s hiring and product development.
In late 2010, OnShift raised $2.3 million that was an extension of its 2009 Series A round. OnShift’s previous investors include Early Stage Partners, Draper Triangle Ventures, North Coast Venture Fund and Glengary. Early Stage Partners also participated in this upcoming Series B investment (it is the company’s largest shareholder).
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The regulatory document lists a 2008 date as “date of first sale.” That may suggest that the $4.5 million amount on the document is inclusive of the series A, meaning the series B round would be smaller than that amount.
Regardless, the picture will become clearer when OnShift makes its announcement.
OnShift’s software is targeted at hospitals, nursing homes and other long-term care facilities. Open shift messages can be sent to available staff via text, email and automated phone call.
[Photo by flickr user Peter Kaminski]
